Republican lawmakers accused top bank regulators Wednesday of dawdling as Silicon Valley Bank hurtled toward the second-largest bank failure in U.S. history and questioned whether tougher regulations would have made a difference.
Regulators closed the bank March 10, shaking the U.S. financial system and triggering fears of a broader banking crisis. But Federal Reserve supervisors had first raised questions about Silicon Valley's risky practices far earlier — in 2021 — and had warned the bank's management about them in the fall of that year.
