Elizabeth Warren calls for accountability and regulation in wake of SVB collapse.
TL;DR Summary
Senator Elizabeth Warren has written a letter to the CEO of Signature Bank, demanding answers for the bank's "disastrous" collapse. Warren accuses the bank of engaging in "excessive risk-taking" and leaning on a "get-rich-quick narrative" during its foray into the crypto world. She also alleges that the bank fought to support efforts to curtail capital requirements embedded in the Dodd-Frank Wall Street Reform law and funneled thousands of dollars in campaign donations to leaders of the effort to loosen bank regulation in Congress. Signature Bank was seized by regulators on Sunday, becoming the third-largest bank ever to fail in the US.
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