Sen. Ted Cruz and Rep. Jim Jordan wrote to San Francisco Federal Reserve Chair Mary Daly to request information on the Fed's supervision of Silicon Valley Bank prior to its failure.
The RealReal founder and former CEO Julie Wainwright discusses the start-up landscape and the problems facing small businesses as regional banks struggle on"The Claman Countdown."is facing calls for transparency from Senate Commerce Committee ranking member Ted Cruz, R-Texas, and House Judiciary Committee Chairman Jim Jordan, R-Ohio, regarding the Fed’s oversight of Silicon Valley Bank prior to its collapse.
Sen. Ted Cruz, R-Texas, left, and Rep. Jim Jordan, R-Ohio, wrote to the San Francisco Fed regarding Silicon Valley Bank's recent collapse. The lawmakers asked that the San Francisco Fed respond to all information requests no later than May 9, 2023. SVB’s failure roiled the banking sector and created uncertainty around a number of other regional banks, including Signature Bank, which also failed, and hasMary Daly, president of the Federal Reserve Bank of San Francisco, has faced criticism in the wake of Silicon Valley Bank's failure.
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