Rubio to Yellen: Do Not Allow Chinese Communist Party to Exploit SVB Collapse

Rubio to Yellen: Do Not Allow Chinese Communist Party to Exploit SVB Collapse
Sen. Marco Rubio (R-Fla.) speaks during a Senate Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies hearing on Capitol Hill on May 17, 2022. Anna Rose Layden/Getty Images
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Sen. Marco Rubio (R-Fla.) has called on the Department of the Treasury to prioritize U.S. national security in response to the recent closures of Silicon Valley Bank (SVB) and Signature Bank.

In a letter to Treasury Secretary Janet Yellen (pdf), Rubio emphasized the need to prioritize the country’s geo-economic competition with China in its response.