Facing Collapse, Trump-Linked Bank Fought Regulators
Only months before its troubles, First Republic pressured bank overseers to preserve the status quo
National Politics
Biden And Becerra Let Big Pharma Profiteer Off Cancer Drug
Rejecting cancer patients’ petition, the Biden administration refuses to use the power its HHS Secretary demanded Trump use.
LEVER TIME: She Was Blocked for Being Right on Banks
On this week’s Lever Time: Saule Omarova’s warnings about deregulation were rejected
Verizon Organizer Gets His Job Back
Verizon reinstates a retail worker it fired for union activities under a settlement with the National Labor Relations Board.
Meet The Champions Of Banking Deregulation
See who helped slash bank rules before Silicon Valley Bank’s collapse, what they said at the time, and what they’re saying now.
Fed Insisted SVB Posed No Serious Risk To Financial System
Less than two years later, Fed Chair Jerome Powell cited systemic risk as justification to protect Silicon Valley Bank’s depositors.
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.
📽️ 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.”