SVB collapse: Justice Department, SEC investigating bank’s failure
Rachel Schilke
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The Justice Department and the Securities and Exchanges Commission are investigating the collapse of the Silicon Valley Bank.
While the probes may not lead to charges or allegations of misconduct, this is an action typical of prosecutors and regulators after financial institutions suffer large, unexpected losses. The agencies will investigate stock sales and the Justice Department’s fraud prosecutors in Washington and San Francisco are involved, as well, per the Washington Post.
This is a breaking story and will be updated.