SVB Financial Files Lawsuit to Retrieve $1.9 Billion Seized by FDIC

SVB Financial Group, the parent company of failed Silicon Valley Bank, is suing the Federal Deposit Insurance Corporation (FDIC) to recover $1.9 billion that regulators seized from the bank during its failure. SVB Financial argues that the FDIC has not provided any valid reasons for withholding the funds, which are crucial for the bank's parent company to reorganize. The FDIC, which initially estimated the bank's failure would cost $16 billion, has declined to comment on the lawsuit.