Political Fallout from Silicon Valley Bank Collapse Continues.
Senators who supported the 2018 rollback of banking regulations are not ready to take responsibility for the collapse of Silicon Valley Bank. They claim it is too early to determine the cause of the collapse and are trying to find the person responsible. The Dodd-Frank Act was curbed by Senate Bill 2155, which Silicon Valley Bank lobbied for, and successfully managed to lift the threshold for oversight measures from banks holding over $50 billion in assets to banks holding over $250 billion. Some senators are now calling for a revival of the Dodd-Frank rules gutted under President Donald Trump.