The Fallout of Silicon Valley Bank's Bailout
TL;DR Summary
Federal banking regulators did not fulfill Silicon Valley Bank's pledge to provide billions in lending to low-income communities as part of an $11 billion community benefits agreement signed ahead of a major merger in 2021. The collapse of the bank could leave thousands of planned Bay Area affordable housing units in jeopardy and halt a $10 million program to increase homeownership in communities of color. Advocates are calling for stronger oversight of bank mergers and for tangible benefits for the public.
- Regulators Stiffed Low-Income Communities In SVB Bailout The Lever
- How Silicon Valley Bank's Failure Could Have Spread Far and Wide The New York Times
- The origin story of “too big to fail” Marketplace
- If we had 'SLEMAC' supervisors, they might have saved Silicon Valley Bank American Banker
- DEON GOUWS: When a bank gets screwed BusinessLIVE
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