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McClain to Hold Hearing on SF Fed’s Failure to Heed Risks at Silicon Valley Bank

WASHINGTON—Subcommittee on Health Care and Financial Services Chairwoman Lisa McClain (R-Mich.) today announced a hearing titled “A Failure of Supervision: Bank Failures and the San Francisco Federal Reserve.” The hearing will examine the circumstances that led to the Silicon Valley Bank’s (SVB) collapse and investigate the San Francisco Federal Reserve’s ...
Press Release
Hearing Wrap Up: FDA’s Food Safety Director Acknowledges ‘Less Than Ideal’ Slow Response to Formula Crisis

WASHINGTON—Today, the Subcommittee on Health Care and Financial Services held a hearing titled “FDA Oversight Part II: Responsibility for the Infant Formula Shortage.” At the hearing, members asked Dr. Susan Mayne, Director of the Center for Food Safety and Applied Nutrition, questions about the Food and Drug Administration’s (FDA) response to ...
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McClain: The FDA Must Act to Improve Internal Controls and Prevent Crises from Happening Again

WASHINGTON—Subcommittee on Health Care and Financial Services Chairwoman Lisa McClain (R-Mich.) opened a subcommittee hearing titled “FDA Oversight Part II: Responsibility for the Infant Formula Shortage” by discussing how today’s hearing is crucial in continuing the subcommittee’s investigation into the Food and Drug Administration’s (FDA) response to the infant formula crisis. Chairwoman McClain emphasized that the FDA must be held accountable for being unprepared to handle ...
Press Release
McClain to Hold Hearing with FDA’s Food Safety Director on Infant Formula Crisis

WASHINGTON—Health Care and Financial Services Subcommittee Chairwoman Lisa McClain (R-Mich.) today announced a hearing titled “FDA Oversight Part II: Responsibility for the Infant Formula Shortage.” The hearing will continue the Oversight Committee’s investigation into the 2022 nationwide infant formula crisis and examine the U.S. Food and Drug Administration’s (FDA) response. “The Oversight Committee is investigating the decisions that led our nation into an infant ...
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Comer, McClain Open Investigation into SF Fed’s Role in Silicon Valley Bank Collapse

WASHINGTON—House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) and Subcommittee on Health Care and Financial Services Chairwoman Lisa McClain (R-Mich.) today opened an investigation into the role the Federal Reserve Bank of San Francisco (SF Fed) and other state and federal regulators played in the Silicon Valley Bank (SVB) collapse. In a letter to the President and CEO of the Federal Reserve Bank of San Francisco, the lawmakers are requesting documents and ...
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McClain: China Playing Major Role in Enriching Cartels, Funding Deadly Fentanyl Epidemic

WASHINGTON — Health Care and Financial Services Subcommittee Chairwoman Lisa McClain (R-Mich.) opened today’s subcommittee hearing on “China in Our Backyard: How Chinese Money Laundering Organizations Enrich the Cartels” by outlining how cartels have partnered with Chinese Money Laundering Organizations to make more money and traffic deadly fentanyl ...
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Hearing Wrap Up: Chinese Criminal Rings Provide Financial Services and Materials Used by Cartels for Fentanyl and Illicit Drug Trafficking; Biden Administration Must Do More

WASHINGTON—The Subcommittee on Health Care and Financial Services held a hearing titled, “China in Our Backyard: How Chinese Money Laundering Organizations Enrich the Cartels.” Subcommittee members discussed with witnesses how Chinese Money Laundering Organizations (MLOs) have taken a central role in washing illicit funds stemming from cartels’ ...
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Comer & McClain Continue Probe of Rampant Fraud in California’s Unemployment Insurance System

WASHINGTON —House Committee on Oversight and Accountability Chairman James Comer (R-Ky.) and Subcommittee on Health Care and Financial Services Chairwoman Lisa McClain (R-Mich.) are continuing their investigation into the state of California’s Unemployment Insurance (UI) System which has been plagued by rampant waste, fraud, and abuse of U.S. taxpayer dollars. In the letter, which follows
Press Release
McClain Announces Hearing on Chinese Money Laundering Operations Assisting Cartels, Killing Americans

WASHINGTON—Subcommittee on Health Care and Financial Services Chairwoman Lisa McClain (R-Mich.) will hold a hearing titled “China in Our Backyard: How Chinese Money Laundering Organizations Enrich the Cartels.” The subcommittee hearing will examine Chinese Money Laundering Organizations (MLOs) that engage in business with cartels to launder illicit funds raised through the deadly trafficking of narcotics such as fentanyl. Chinese MLOs also play a principal role in the production, ...
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FDA’s Food Safety Director Agrees to Testify on Infant Formula Crisis

WASHINGTON—To assist in the House Committee on Oversight and Accountability’s ongoing investigation into the Food and Drug Administration’s (FDA) response to the 2022 nationwide infant formula shortage, Subcommittee on Health Care and Financial Services Chairwoman Lisa McClain (R-Mich.) has called upon Dr. Susan Mayne, Director of the Center for Food Safety and Applied Nutrition at the FDA, to appear before the Subcommittee. Today, Dr. Mayne agreed to testify at a public hearing on ...