Grimes County Congressman Michael McCaul banking on federal regulators working out bank failures

American financial institutions are going through closures for the third time in 40 years.

Grimes County congressman Michael McCaul hopes what federal regulators are doing will work.

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Speaking on WTAW’s The Infomaniacs, McCaul says the banks that have failed invested too much in low interest bonds that could not withstand inflation rates.

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Prior failures of financial institutions took place during the great recession of 2008 and in the 1980’s.