Silicon Valley, Signature banks lobbied hard to loosen bank rules ...Middle East

Banks that collapsed over the last week were some of the top supporters of a 2018 bill to loosen regulations aimed at preventing another financial meltdown.  Silicon Valley Bank (SVB) and Signature Bank aggressively lobbied for the Economic Growth, Regulatory Relief, and Consumer Protection Act. The 2018 law exempted them from stringent stress testing and capital requirements in the 2010 Dodd-Frank Act that were implemented in response to the financial crisis.  Five things to know about the Silicon Valley Bank takeover The bipartisan bill, signed by President Trump, made it so banks with $250 billion or less in assets were not “systemically important” — up from the previous $50 b

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