Sen. Kevin Cramer (R-ND) rebuffed calls for increased banking regulations in the wake of Silicon Valley Bank's collapse.
The senator took note of inflationary pressures and other economic turbulence that preceded SVB's collapse but downplayed concerns that the rollback of the Dodd-Frank regulations for mid-sized banks during the Trump administration contributed to it."They certainly don't need any more regulation. That doesn't mean that you can be mismanaged," Cramer told NBC's Meet the Press.
Instead of bolstered regulation, Cramer suggested smaller banks could get"better oversight, but certainly not more regulation." Cramer sits on the Senate Committee on Banking, Housing, and Urban Affairs.
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