Silicon Valley Bank failure renews focus on a 2018 deregulation law
The collapses of Silicon Valley Bank and Signature Bank over the weekend have renewed interest in a 2018 bill that rolled back several banking regulations that were put in place after the 2008 financial crisis.
The bill, led by Sen. Mike Crapo (R-Idaho), scaled down requirements imposed under the 2010 Dodd-Frank law and reclassified the size of banks that would have to undergo increased regulatory scrutiny, raising that threshold for some from $50 billion in assets to $250 billion in assets. Since Silicon Valley Bank had roughly $209 billion in assets, it was exempt from those more stringent regulations.
