WASHINGTON, D.C. – Today, the Subcommittees on Financial Institutions and Monetary Policy and Oversight and Investigations held a joint hearing entitled, “Continued Oversight Over Regional Bank Failures” where Congressman Blaine Luetkemeyer (MO-03) questioned Greg Becker, former Chief Executive Officer of Silicon Valley Bank, Scott Shay, co-founder and former Chairman of Signature Bank, and Michael Roffler, former Chief Executive Office and President of First Republic Bank about the failures of their respective banks and the caution that should be exercised going forward.

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Rep. Luetkemeyer: As tragic as the situation is, I think it’s also a learning moment for all of us. An instructive moment I think for us in Congress, for the regulators, and for bankers around the country quite frankly. From the standpoint that I think we’re in a new world now with regards to social media and the actions that could be taken, the actions that could have adverse effects on our financial system, our culture, our economy. And I’m very concerned about it.