Senate Banking Republicans wary of Biden officials' handling of SVB collapse: ‘Asleep at the wheel’
Fox News
Multiple Republicans on the Senate Banking Committee are urging caution after federal regulators stepped in to take over the bank and cover SVB depositors' funds.
"As a member of the Senate Banking Committee, I have been following the events of the last week closely. These events are the result of some federal bank regulators being asleep at the wheel and shockingly poor management by an isolated number of banks," Lummis told Fox News Digital. Elizabeth Elkind is a politics reporter for Fox News Digital.
She also stood firm against "any bailout of these banks" beyond the current federal requirements — after the Biden administration vowed that investor funds will be recouped fully, beyond the $250,000 maximum deposit protected by the Federal Deposit Insurance Corporation (FDIC). "A bailout would encourage risky behaviors by similar institutions down the road," she said.