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Schumer, Jeffries Joint Statement Applauding Federal Response To Silicon Valley Bank

Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) and House Democratic Leader Hakeem Jeffries (D-NY) released the following statement on the swift response by the Biden administration and government regulators to the collapse of Silicon Valley Bank and others:

“We are grateful that the Biden administration, Federal Reserve and FDIC took swift action to safeguard depositors and maintain confidence in the banking system. Americans should have faith that bank regulators are doing everything they can to protect consumers. In the coming days and weeks, Congress will be looking closely at the causes behind the run on Silicon Valley Bank and other banks and how we can prevent a similar crisis in the future.”