Federal Reserve Deflects Blame for Silicon Valley Bank Collapse
‘A textbook case of mismanagement,’ the Fed’s top regulator calls it. Senate and House hearings this week will feature testimony from federal finance watchdogs.
WASHINGTON — The nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse.
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