March 10, 2023

Senator Warren Statement on Silicon Valley Bank’s Failure

Boston, MA – U.S. Senator Elizabeth Warren (D-Mass.) released the following statement after the failure of Silicon Valley Bank (SVB):

“In the wake of Silicon Valley Bank’s failure, I am receiving updates from the FDIC, and I expect there will soon be a better assessment of how much help is available for customers in Massachusetts and across the nation. SVB executives must be held accountable for any malfeasance or mismanagement that led to this failure. President Trump and Congressional Republicans’ decision to roll back Dodd Frank’s “too big to fail” rules for banks like SVB – reducing both oversight and capital requirements – contributed to a costly collapse.”