SVB Failure Sparks Blame Game Over Trump-Era Regulatory Rule
- Congress cut burdens for smaller and mid-sized banks in 2018
- Pullback now takes center stage as Washington responds to SVB
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Eight years ago, Greg Becker delivered a blunt message to lawmakers in Washington: the bank he ran was not like Wall Street.
As chief executive officer of SVB Financial Group, he urged Congress to pass legislation that would let workers at his firm avoid thousands of hours every year undergoing stress tests and prepping resolution plans. His was a simple lender, not like the global systemically important banks that regulators should be focused on.