Banking,
Government
Mar. 15, 2023
Fed board ousts Silicon Valley Bank executive
Silicon Valley Bank's CEO Greg Becker's role with the board that is supposed to be monitoring SVB might raise some eyebrows, but a former prosecutor with the Department of Justice said, "You can call it a conflict of interest, but federal reserve boards are made up of bankers."
The Federal Reserve Bank’s San Francisco Board of Directors has a new vacancy.
Silicon Valley Bank’s CEO, Greg Becker, was also a director for the San Francisco Fed. He was quietly removed from the supervisory bank’s website after regulators seized SVB on Friday as it collapsed.
Officials with the San Francisco Fed could not be reached for comment by press time.
Events moved swiftly af...
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