Jack, sign the petition: No more Silicon Valleys. We need tough bank regulations.

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Silicon Valley Bank has collapsed.

But the bank's collapse could have been avoided if key parts of the Dodd-Frank law, which protected consumers, had not been rolled back in 2018 by Donald Trump and the Republican Congress under pressure from the banking industry.

Sign the petition: No more Silicon Valleys. We need tough bank regulations.

SIGN THE PETITION
This deregulation in 2018 made it easier for banks to take risks, potentially putting consumers and American families in danger. If the stronger liquidity and capital requirements had remained in place, the collapse could have been predicted and prevented, and consumers' assets would have been safeguarded.

Instead, Silicon Valley Bank executives awarded themselves large bonuses just before federal regulators took over the failing institution. They did this because they believed they could get away with it in the current financial regulatory environment.

To prevent this from happening again, Congress should repeal the 2018 Trump law and reform deposit insurance to shield everyday consumers from the consequences of reckless bank behavior.

Sign the petition: No more Silicon Valleys. We need tough bank regulations.

SIGN THE PETITION
Thank you for fighting with us,
Mayra Souza, Daily Kos