SVB depositors including Roku and Roblox are under scrutiny from Elizabeth Warren and AOC for their 'unusually cozy' relationships with the failed bank
Major depositors at Silicon Valley Bank were sent letters from Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez seeking information about the nature of their connections to the now-failed lender, according to aThe Democrats representing Massachusetts and New York on Sunday sent letters to 14 of SVB's largest depositors about a month after SVB's implosion, the report said.
"Silicon Valley Bank's unusually cozy relationship with its clients increased the threat of contagion when the bank went under," Warren told Bloomberg in a statement."The American people deserve to know how these mutual backscratching arrangements developed, who benefitted from them, and what role they played in Silicon Valley Bank's failure."
Warren and Ocasio-Cortez also want to know whether special benefits such as credit lines were given to board members, executives or investors.
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