Regulators Greenlit SVB’s Risky Investments
Following lobbying efforts, the Federal Reserve exempted Silicon Valley Bank’s venture capital investments from a key risk management rule.
Business
Critical coverage on the global financial system and domestic policies that shape the U.S. economy, with a focus on corporate wrongdoing.
📽️ WATCH NOW: The Lever’s Leading The Coverage Of The SVB Collapse
The Lever first uncovered federal documents outlining SVB's successful efforts to push back on banking regulations.
SVB’s Lobby Groups Fought Proposal To Bolster Deposit Insurance
Months before Silicon Valley Bank collapsed, its D.C. advocacy groups said the FDIC initiative “would unduly burden banks.”
SVB Chief Pressed Lawmakers To Weaken Bank Risk Regs
Collapsed bank’s president told Congress “enhanced prudential standards” should be lifted “given the low risk profile of our activities.”
Campaign Cash Goes In, Late Fees Come Out
Republican lawmakers funded by the credit card industry are fighting to protect the excessive fees companies charge consumers.
After Norfolk Southern Support, DeWine Says No Disaster In East Palestine
Ohio Gov. Mike DeWine’s track record and rail company links raise questions about his ability to hold the rail giant accountable for the derailment disaster.
Private Equity’s Senator Gets Big Payout
Retiring Sen. Pat Toomey is joining Apollo Global Management after helping enrich the private equity industry during his time in Congress
The Left Bank’s Warning About Wall Street
An obscure rare book scandal offers a cautionary tale about public pensions’ growing reliance on private equity.
“This Is Highway Robbery”
After preying on nursing home residents, cost-cutting investor firms are going after “wellness housing” for healthy seniors.
A Wall Street Time Bomb
After reaping huge fees off workers’ savings, private equity firms’ subterfuge could imperil promised benefits for millions of workers and retirees.