Scoop: Massachusetts lawmakers seek FDIC briefing on Silicon Valley Bank
Silicon Valley Bank headquarters in Santa Clara, California. Photo: Philip Pacheco/Bloomberg via Getty Images., Axios has learned.The FDIC's takeover of the nation's 16th largest bank is being felt deeply in Massachusetts, which has the second-most SVB branches after California.
SVB significantly expanded its footprint in 2021, when it bought Massachusetts'-based Boston Private.Rep. Jake Auchincloss told Axios in an interview on Sunday that he put in a request with the Treasury Department for a briefing from FDIC officials.on Saturday night and a Treasury briefing on Sunday afternoon.
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