Biden vows to hold those responsible for Silicon Valley Bank failure ‘fully accountable’

President Joe Biden said Sunday that at his direction US Treasury Secretary Janet Yellen and his top economic adviser Lael Brainard worked with financial regulators to ensure households and businesses affected by the Silicon Valley Bank and Signature Bank failures could access their deposits, and he promised to hold those responsible accountable.

“I am pleased that they reached a prompt solution that protects American workers and small businesses, and keeps our financial system safe. The solution also ensures that taxpayer dollars are not put at risk,” Biden said in the statement.