The facts on Trump’s 2018 loosening of regulations on banks like SVB

After Silicon Valley Bank collapsed late last week following a run on the bank, Sen. Bernie Sanders of Vermont argued that the culprit was clear: an “absurd” 2018 law, signed by then-President Donald Trump, that rolled back regulations on banks of SVB’s size.

President Joe Biden wasn’t as direct as Sanders in blaming the 2018 rollback for SVB’s implosion, but he, too, criticized the Trump law in his Monday comments on the banking system. Trump, meanwhile, rejected any role in the SVB mess and his spokesperson has accused Democrats of trying to deceive the public to evade their own responsibility.