Sen. Elizabeth Warren slammed Silicon Valley Bank's CEO for his role in its collapse, citing his support for rollbacks of some Dodd-Frank banking rules: 'You lobbied for weaker rules, got what you wanted.'
, criticizing Trump-era rollbacks to parts of the Dodd-Frank Act, which provided regulatory relief for midsized banks like SVB.urging Congress, the White House and banking regulators to reverse "the dangerous bank deregulation of the Trump era."Driving the news:on Becker's role in the collapse. "You have nobody to blame for the failure at your bank but yourself and your fellow executives," she said.
"You lobbied for weaker rules, got what you wanted, and used this opportunity to abdicate your basic responsibilities to your clients and the public – facilitating a near-economic disaster," she wrote. Warren in the letter also requested answers from Becker on several questions related to SVB's failure and his "role in the rollback of banking regulations that facilitated this failure."Warren, one of the key architects of post-2008 reforms, is not alone in calling for large-scale financial reforms in the aftermath of the fall of both SVB and Signature Bank, a key bank for the cryptocurrency industry.
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