New Democrat Coalition Chair Statement on the Collapse of the Silicon Valley Bank
Today, New Democrat Coalition (NDC) Chair Annie Kuster (NH-02) released the following statement on the collapse of the Silicon Valley Bank:
“Our Coalition is deeply troubled by the sudden failure of the Silicon Valley Bank (SVB) and the impacts on workers, the economy, and the country’s innovation ecosystem. American workers began missing paychecks on Friday as businesses lost access to their accounts. Our Coalition appreciates the Biden Administration’s focus on this critical issue.
“In order to meet this challenge, independent regulators should do everything in their power to reach a resolution by Sunday evening to restore stability and minimize the ripple effects of the bank’s collapse on American workers and their families. Their focus should be on clearly communicating with and providing certainty for SVB clients and the small businesses and workers across America impacted by this failure.”
Next Article Previous Article