The new House Financial Services Committee chairman leading an investigation into two of the largest bank failures in history says his team has returned all donations from a fundraiser with executives in Signature Bank’s boardroom days before its collapse.
“I think the chairman was very clear,” McCarthy said. “He doesn’t raise money because these people are influencing him. People provide resources — and there’s a limited amount that someone can provide in this process as well — based upon his own philosophy and principles.”Monday that Signature co-founder and chairman Scott Shay held a fundraiser for McHenry at the bank's New York headquarters on March 2 — 10 days before regulators shut it down.
Campaign donations from Silicon Valley and Signature banks have become a political headache dozens of other lawmakers — Republicans and Democrats alike — as Congress and the Biden administration begin to launch probes to get to the bottom of the historic bank failures.she was returning a $2,500 donation that Silicon Valley Bank gave her in late 2020, when she was chair of the committee, though her office has not responded to questions from NBC News.
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