The House Financial Services Committee is investigating two of the largest bank failures in history, with Chairman Rep. Patrick McHenry (R-N.C.) returning donations from a fundraiser with bank executives days before the collapse. The episode highlights the power of bankers in Washington, where the industry spends heavily to fight regulation and hires former lawmakers to shape policy. The investigation into the bank failures is ongoing, and the results of the probe will be closely watched to determine if the rollback of the 2010 law and the lobbying campaign had any impact.
