Professor Heidi Mandanis Schooner, The Catholic University of America Columbus School of Law (Catholic Law), provided expert testimony to the Senate Committee on Banking, Housing, and Urban Affairs during a full committee hearing the morning of Thursday, May 4, 2023. The committee hearing came in the wake of a bank crisis which witnessed the failures and closings of Silicon Valley Bank, Signature Bank, and First Republic Bank in early- and mid-spring 2023.

In her opening remarks, Schooner discussed the risks of poor banking management practices, the role of federal law in imposing liability on bank executives, and potential reforms that would amplify accountability measures. Her testimony is available for viewing here.

Click here for a recording of the Commission’s May 4 hearing. Schooner begins her open statement at the 48:54 mark.