Senators Demand Answers on Collapse From SVB, Signature CEOs

Senators are demanding that the former top executives of two failed banks testify on what led to their collapse.

In a letter to the chief executive officers of Silicon Valley Bank and Signature Bank, Democratic Senator Sherrod Brown and Republican Senator Tim Scott, called on them to answer questions before the committee and rejected claims that to do so would reveal confidential details.

“Your testimony would provide substantial information relevant to SVB’s failure and could be provided without necessarily disclosing confidential supervisory information,” the chairman and ranking Republican on the Senate banking committee wrote to SVB’s Gregory Becker ...