San Francisco Fed’s Role in SVB Collapse Draws US House Investigation
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The US House’s top government watchdog committee has launched an investigation into the role the Federal Reserve Bank of San Francisco and other state and federal regulators played in the March failure of Silicon Valley Bank.
Armed with subpoena power, the GOP-led Committee on Oversight and Accountability disclosed its probe in a letter Thursday from the panel’s Republican chairman James Comer to San Francisco Fed President and CEO Mary Daly.