A group of Democratic U.S. lawmakers sent a letter to regulators and the Justice Department requesting a probe into the role of Goldman Sachs Group Inc in the collapse of the Silicon Valley Bank (SVB) , the office of U.S. Representative Adam Schiff said on Friday.
The letter was sent to U.S. Attorney General Merrick Garland, Securities and Exchange Commission Chairman Gary Gensler, and Federal Deposit Insurance Corporation Chair Martin Gruenberg from Schiff and 19 other members of the California congressional delegation.
Californian regulators shuttered Silicon Valley Bank last Friday and appointed FDIC as receiver. It was the largest collapse since Washington Mutual went bust during the financial crisis of 2008. On Friday, the bank's parent SVB Financial Group said it filed for reorganization under Chapter 11 bankruptcy protection.Goldman Sachs did not immediately respond to a request for comment on the letter by lawmakers.
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