Before going down in history as two of the largest bank failures in the U.S., executives for Silicon Valley Bank of California and Signature Bank of New York were political donors who steered their money toward people who influence financial services laws.
Silicon Valley Bank PAC posted five-figure fundraising totals during most election cycles dating back to 1998, maxing out in 2011 and 2012 when it brought in about $60,000. Much of the money the PAC could pool and spend over the years has come from Silicon Valley Bank executives. Some of its major recipients include: , D-Va., received $21,600 cumulatively from 2011 to 2022. He is a member of the Senate Banking Committee.
The largest donation, the maximum $5,000, came in 2018, about a week after he voted with the majority of the House to pass the rollback of Dodd-Frank banking regulations. , R-N.C., received $10,000 from 2015 to 2022 in four separate transactions of $2,500. He is the chairman of the House Financial Services Committee and voted in 2018 to roll back some of the Dodd-Frank banking regulations. , D-Calif., received $8,600 from 2006 to 2019, most often in $1,000 increments.
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