May 01, 2023

Scott Statement on First Republic Bank

Washington, D.C. – U.S. Senator Tim Scott (R-S.C.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, today released the following statement on actions regarding First Republic Bank:

“Americans should remain confident in our banking system, as it continues to be strong and resilient. I’ve long expressed concerns over broad, taxpayer-funded government intervention, so I'm glad the FDIC heeded my concerns and secured a private market solution for First Republic. I look forward to learning more about the bid process and bringing transparency to the American people."