"You owe your customers and the public an explanation for the decisions that resulted in the costly failure of your bank," the Democrat wrote in the letter dated Wednesday, which was made public by her office.
Regulators seized troubled First Republic Bank and JPMorgan
Chase agreed to buy majority of its assets earlier this
week, marking the largest U.S. bank failure since the 2008
financial crisis.
"The primary cause of the collapse...appears to be
complacency, incompetency, and mismanagement by you and other
bank executives," Warren said.
Roffler has been asked to submit responses by May 17. He
could not be reached for comment on Thursday.
The contents of the letter were first reported by the Wall
Street Journal.
(Reporting by Niket Nishant in Bengaluru; Additional reporting
by Jaiveer Singh Shekhawat; Editing by Shounak Dasgupta and Arun
Koyyur)
