Regulators didn't have to shutter Signature Bank, says Dodd-Frank Act coauthor Barney Frank, who helped oversee the lender: 'We could've continued'

• Regulators didn't have to close Signature Bank, said Barney Frank, coauthor of the Dodd-Frank Act. 
• The former congressman also helped oversee Signature Bank as a member of its board of directors.
• Frank told Bloomberg that the lender could have continued operating.

Former Congressman Barney Frank, the co-author of the Dodd-Frank Act and a board member of Signature Bank, said regulators didn't have to shutter the bank he helped oversee.

In an interview with Bloomberg, Frank maintained that Signature Bank was closed unnecessarily over the weekend.