Silicon Valley Bank

featured graphic for Young Kim (R), US Congressional representative for the 40th District of California

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U.S. Representative Young Kim (CA-40) joined Financial Services Subcommittee on Oversight and Investigations Chairman Bill Huizenga (MI-04) and Subcommittee on Financial Institutions and Monetary Policy Chairman Andy Barr (KY-06) to demand answers on supervisory activity conducted prior to the collapse of Silicon Valley Bank (SVB). The members sent a letter to Vice …continue reading

featured graphic for DFPI California Department of Financial Protection and Innovation after COVID-19

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“The Department of Financial Protection and Innovation is conducting a comprehensive review of the department’s oversight and regulation of Silicon Valley Bank and will issue a report by early May 2023. Through this review, we will examine how we can strengthen and update our system of financial regulation to meet …continue reading

featured graphic for California State Treasurer Fiona Ma after COVID-19

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California State Treasurer Fiona Ma issued the following statement after the closure of Silicon Valley Bank (SVB): “Despite recent uncertainty in the banking industry following the closure of Silicon Valley Bank, I want to reassure taxpayers that the State Treasurer’s Office has no exposure to SVB, and all State of …continue reading

Seal of the Governor and photo of Gavin Newsom courtesy of the Office of the Governor of the State of California.

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Governor Gavin Newsom issued the following statement in response to the Biden Administration’s announcement enabling the Federal Deposit Insurance Corporation to complete its resolution of Silicon Valley Bank in a manner that fully protects all depositors. “The Biden Administration has acted swiftly and decisively to protect the American economy and …continue reading