Mar 29, 2023 | Blog Posts


As a member of the House Financial Services Committee, we just held the first hearing on the collapse of Silicon Valley Bank. We are pushing forward aggressively to get accountability and provide transparency for the American people. 

As part of this process, I am fighting to make sure Iowans and our community banks are not going to be on the hook for SVB’s mismanagement: 

  • Silicon Valley Bank had nearly 90% of uninsured deposits. 

  • For comparison, the average of banks’ uninsured deposits throughout Iowa is rougly 20% with rural parts of Iowa averaging roughly 5% uninsured bank deposits. 

In the Financial Services Committee this week, I questioned federal regulators on how this was allowed to happen under their noses, and I will continue fighting to get accountability and protect taxpayer dollars: 

The bottom-line: we are investigating why regulators allowed this to happen and providing transparent answers for the American people to prevent this from happening again.