U.S. lawmakers met with federal regulators late Friday to discuss the collapse of SVB_Financial hours after regulators took it over, according to a person familiar with the matter. nikhileshde reports
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.U.S. lawmakers met with the Federal Reserve and Federal Deposit Insurance Corp. on Friday to discuss the collapse of Silicon Valley Bank .
Rep. Maxine Waters held briefings with officials from the two federal bank regulators, as well as the Treasury Department late in the day, hours after the . Lawmakers from both major political parties were present at the meetings with regulators, a person familiar told CoinDesk."I am alarmed by the failure of Silicon Valley Bank, which marks the second largest bank failure in U.S. history," she said in a statement.
Several California lawmakers tweeted they were also following the situation. One key concern is whether depositors would receive any portion of their funds beyond the FDIC’s $250,000 limit per account.
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