The collapse of Silicon Valley Bank, the second-largest bank failure in U.S. history, came just years after a Republican-led bill rolled back bank regulations imposed after the 2008 financial crisis — raising criticism of the role Republicans played in weakening the Dodd-Frank regulation, which could have prevented the tumbledown, according to a new report released by the left-leaning government watchdog group Accountable.US.
Former President Donald Trump in 2018 signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act, which severely watered down risk-assessment rules put in place in the wake of the 2008 financial crisis to try to stop banks from crumbling.
