Lawmakers tell ex-CEOs 'you must answer' for bank failures
Leaders of the Senate’s banking committee are telling former chief executive officers at the failed Silicon Valley Bank and Signature Bank they “must answer” for their banks' "downfall.”
By KEVIN FREKING
Published - Mar 23, 2023, 12:49 PM ET
Last Updated - Jun 22, 2023, 02:08 PM EDT
WASHINGTON (AP) — Leaders of the Senate's banking committee on Thursday warned former chief executive officers at the failed Silicon Valley Bank and Signature Bank that they expect them to testify before the panel, saying in a letter to each: “you must answer for the bank's downfall.”
The committee is examining the events leading up to the closures of the banks, starting with the first congressional hearing on Tuesday. Separate letters were sent Thursday to Gregory Becker, the former head of Silicon Valley Bank, and to Joseph DePaolo, the former head of Signature Bank.
Attorneys copied in on the letters sent to the CEOs did not immediately reply to requests from The Associated Press for comment.
