Regulators Stiffed Low-Income Communities In SVB Bailout
The government rescued Silicon Valley Bank’s wealthy depositors, but neighborhoods counting on the collapsed bank are out of luck.
Silicon Valley Bank
Learn more about the Santa Clara, California-based bank that famously failed after a bank run in 2023.
Document Shows Regulators Knew Of SVB Risk Five Years Ago
Bank overseers published a 2018 report with a major red flag about Silicon Valley Bank — and then they ignored it.
Fed Insisted SVB Posed No Serious Risk To Financial System
Less than two years later, Fed Chair Jerome Powell cited systemic risk as justification to protect Silicon Valley Bank’s depositors.
📽️ WATCH NOW: The Lever’s Leading The Coverage Of The SVB Collapse
The Lever first uncovered federal documents outlining SVB's successful efforts to push back on banking regulations.
SVB’s Lobby Groups Fought Proposal To Bolster Deposit Insurance
Months before Silicon Valley Bank collapsed, its D.C. advocacy groups said the FDIC initiative “would unduly burden banks.”
SVB Chief Pressed Lawmakers To Weaken Bank Risk Regs
Collapsed bank’s president told Congress “enhanced prudential standards” should be lifted “given the low risk profile of our activities.”