Rep. McHerny: ‘I Don’t Have the Facts’ on SVB Collapse

Rep. Patrick McHenry, R-N.C., the chair of the House Financial Services Committee, which is slated to hold a hearing on the matter later this month, said Sunday he didn’t have all the facts to assess what led to the collapse of Silicon Valley Bank.

McHenry told “Face the Nation,” regarding SVB’s collapse and the failure of Signature Bank: “We need to get to the bottom of whether or not this is a supervisory problem, a regulatory problem, a bank mismanagement problem, perhaps all three … in all frankness.”

In an earlier comment, McHenry said, “I don’t have the facts. And until I have the facts, I’m not going to draw a conclusion, especially in a moment like this.”

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