Senators call on former Silicon Valley Bank, Signature Bank CEOs to testify
Publishing timestamp: 2023-03-23 13:11:20
Summary
The former CEOs of Silicon Valley Bank and Signature Bank have been called to testify before the Senate Banking, Housing and Urban Affairs Committee about the collapses of their banks, which have raised concerns about broader economic damage. The senators are seeking information on the banks' negligent business practices, overwhelming proportion of uninsured depositors, and payment of bonuses in the hours leading up to the seizure of the banks by regulators. Both former executives have indicated they are unable to attend the March 28 hearing, but the senators are urging them to answer the panel's questions at a future date.
Sentiment: NEGATIVE
Keywords: svb financial group, u.s. economy, banks, breaking news: politics, politics, business news, signature bank,