CBA On New Reports Examining Recent Bank Failures: Policymakers Must “Avoid Knee-Jerk Political Reactions”

Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement after the Government Accountability Office (GAO), Federal Reserve, and Federal Deposit Insurance Corporation (FDIC) released new reports examining the failures of Silicon Valley Bank and Signature Bank last month.

"Today’s reports confirm there were a multitude of factors contributing to the collapse of these institutions, with each bank facing challenges that were unique to them. At the same time, the entire industry continues to navigate economic headwinds, including record-high inflation and unprecedented interest rate hikes. Our members are tackling these challenges head-on and are well-positioned to support America's families and small businesses through this next phase of the economy – just as they did through the COVID-19 pandemic.

“CBA appreciates policymakers for comprehensively reviewing and analyzing these events and for recognizing the need to reinforce consumers’ trust in our nation’s well-regulated financial system. As we all take time to comprehend and digest these reports in the weeks ahead, we will continue to urge policymakers to avoid knee-jerk political reactions that could have sweeping consequences for the industry and our customers. We – members of Congress, regulators, and the industry – have a responsibility to work together to support the consumers we all serve, and that's exactly what our members will continue to do."


  • In an Associated Press interview published earlier this month, Johnson expressed confidence in the strength of the banking industry following recent market uncertainty and offered insights into how bank leaders are preparing for the future. To learn more, click HERE
  • During an interview with Kate Rogers on CNBC’s The Exchange, Johnson stated: “Banks across the country, including regional banks, are well capitalized. They’ve got adequate liquidity. They have been planning for a changing economy for two-plus years […] they are ready for whatever is next.”
  • In her first presidential address to the industry at CBA LIVE Johnson expressed confidence in the strength, resiliency, and unity of the banking industry in the wake of recent market uncertainty To learn more, click HERE.
  • At CBA LIVE, Johnson also moderated a panel discussion on what’s NEXT for banks in the wake of the Silicon Valley Bank failure featuring former FDIC Chair Jelena McWilliams, former head of retail at PNC Neil Hall, and Brookings Institute Senior Fellow Aaron Klein. To learn more, click HERE.