On Wednesday night, Rep. Chris Collins (R-N.Y.) said he's not stepping down or dropping his re-election bid after the FBI arrested him on charges of insider trading, wire fraud, and lying to the FBI, charges he called "meritless." House Speaker Paul Ryan (R-Wis.) sees potential merit in the indictment.
"While his guilt or innocence is a question for the courts to settle, the allegations against Rep. Collins demand a prompt and thorough investigation by the House Ethics Committee," Ryan said in a statement. "Insider trading is a clear violation of the public trust. Until this matter is settled, Rep. Collins will no longer be serving on the House Energy and Commerce Committee."
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