Lawmakers Probe If Collusion Between SVB and Its Biggest Customers Helped Fuel Collapse

Lawmakers Probe If Collusion Between SVB and Its Biggest Customers Helped Fuel Collapse
Sen Elizabeth Warren (D-Mass..) speaks in Washington on July 12, 2022. Kevin Dietsch/Getty Images
Bryan Jung
Updated:
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Two Democrat lawmakers are probing if “mutual backscratching arrangements” between Silicon Valley Bank (SVB) and some of its biggest customers helped fuel its collapse early last month.

Sen. Elizabeth Warren (D-MA) and Rep. Alexandria Ocasio-Cortez (D-NY) have requested responses from some of the largest depositors at the failed bank, to probe the nature of their relationship with the failed lender.
Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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