{"id":1887193,"date":"2023-03-14T20:12:14","date_gmt":"2023-03-15T00:12:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-chuck-schumer-and-maxine-waters-to-relinquish-political-donations\/"},"modified":"2023-03-14T20:13:17","modified_gmt":"2023-03-15T00:13:17","slug":"svb-collapse-chuck-schumer-and-maxine-waters-to-relinquish-political-donations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-chuck-schumer-and-maxine-waters-to-relinquish-political-donations\/","title":{"rendered":"SVB collapse: Chuck Schumer and Maxine Waters to relinquish political donations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsvb-collapse-chuck-schumer-and-maxine-waters-to-relinquish-political-donations%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1887193&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div id=\"Brid_78748495\" class=\"brid\" style=\"width:16; height:9;\" itemprop=\"video\" itemscope itemtype=\"http:\/\/schema.org\/VideoObject\">                <meta itemprop=\"name\" content=\"SVB collapse Explainer\">               <meta itemprop=\"description\" content=\"Silicon Valley Bank collapsed on Friday, followed by New York-based Signature Bank on Sunday, with shares of San Francisco-based plummeting by more than 70% on Monday. Though the Biden administration has said it will not bail out banks, it will fully guarantee deposits in SVB, which Republicans have described as being a very similar move in practice.\">               <meta itemprop=\"duration\" content=\"PT2M14S\">               <meta itemprop=\"uploadDate\" content=\"2023-03-13 22:50:52\">               <meta itemprop=\"thumbnailURL\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/snapshot\/1261953_th_1678748157.jpg\">               <meta itemprop=\"contentUrl\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/sd\/1261953.mp4\">              <\/div>\n<p>               <script type=\"text\/javascript\"> var _bp=_bp||[]; _bp.push({ \"div\": \"Brid_78748495\", \"obj\": {\"id\":\"27789\",\"width\":\"16\",\"height\":\"9\",\"video\":\"1261953\"} }); <\/script>               <script type=\"text\/javascript\" async src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script>              <\/div>\n<\/p><\/div>\n<p><span class=\"ArticlePage-articleBody-firstLetter\">A<\/span>At least two top Democrats have announced plans to cease receiving political donations <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/silicon-valley-bank\" target=\"_blank\" rel=\"noopener\">Silicon Valley Bank&#8217;s<\/a> In the aftermath of its collapse, the political action committee was formed. <\/p>\n<p>Senate Majority Leader <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/chuck-schumer\" target=\"_blank\" rel=\"noopener\">Chuck Schumer<\/a> According to a spokesperson for the Democratic Party of New York, Greg Becker, the CEO of the company donated contributions to charity. A PAC associated to the bank also contributed to the donation. Meanwhile, Rep. <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/maxine-waters\" target=\"_blank\" rel=\"noopener\">Maxine Waters<\/a> (D-CA), ranking Member of the House Financial Services Committee plans to return the donation from the PAC. <a class=\"Link\" href=\"https:\/\/www.politico.com\/news\/2023\/03\/14\/maxine-waters-donation-silicon-valley-bank-00087050\" target=\"_blank\" rel=\"noopener\">per<\/a> <i>Politico<\/i>. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/democrats-propose-reversing-dodd-frank-rollback\" target=\"_blank\" rel=\"noopener\">SVB COLLAPSE &#8211; PROGRESSIVES UNVEIL a BILL TO UNDO TRUMPERA ROLLBACK OF DDD-FRANK<\/a><\/b> <\/p>\n<p>&#8220;All contributions have been donated to charity,&#8221; Schumer spokesperson told The <i>Washington Examiner<\/i>. <\/p>\n<p>According to a report by a, Becker donated $5800, the maximum permissible, to Schumer in 2021. <a class=\"Link\" href=\"https:\/\/docquery.fec.gov\/cgi-bin\/fecimg\/?201507220200228512\">Federal Election Commission filing<\/a>. According to filings, Schumer&#8217;s campaign received $2,700 from the aligned PAC of SVB in 2015. According to filings, Waters earned $2,500 from SVB&#8217;s PAC in 2020. <\/p>\n<p>Between 2017 and 2022 SVB&#8217;s PAC gave more than $50,000 to almost two dozen senate- and congressional campaigns. <i>Politico<\/i> reported. Many of the funds went to members of key committees that oversee banking regulations. <\/p>\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<figure class=\"Figure mb-1 mb-sm-3 mb-md-1 article-lead-photo data_invisible\" data-align=\"center\" data-image-size=\"fixed\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\">\n<div class=\"Figure-container\"> <picture><source media=\"(max-width: 768px)\" type=\"image\/webp\" width=\"767\" height=\"443\" data-image-size=\"1060x600_md\"><source media=\"(max-width: 768px)\" width=\"767\" height=\"443\" data-image-size=\"1060x600_md\"><source media=\"(max-width: 1440px)\" type=\"image\/webp\" width=\"645\" height=\"372\" data-image-size=\"1060x600_xl\"><source media=\"(max-width: 1440px)\" width=\"645\" height=\"372\" data-image-size=\"1060x600_xl\"><source type=\"image\/webp\" width=\"1060\" height=\"612\" data-image-size=\"1060x600\"><source width=\"1060\" height=\"612\" data-image-size=\"1060x600\"><\/source><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"Figure-caption\" itemprop=\"caption\"> Maxine Waters, Chuck Schumer                <\/figcaption><div class=\"Figure-credit\" itemprop=\"author\">                 AP                <\/div>\n<\/p><\/div>\n<\/figure><\/div>\n<\/p><\/div>\n<p>According to the report, Senator Mark Warner (D.VA) and Rep. Patrick McHenry, both Republicans from North Carolina, received the most significant donations of $7,500 each from the PAC during the period. <\/p>\n<p>SVB was seized by regulators on Friday following a bank ran triggered Wednesday by SVB&#8217;s announcement of seeking $2.25billion in additional equity. It had previously been forced to sell $21billion in bonds. This resulted in $1.8billion in unrealized losses. The bank was closed for good on Thursday. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\">CLICK HERE FOR MORE INFORMATION FROM THE WASHINGTON XAMINER<\/a><\/b> <\/p>\n<p>SVB was the subject of a federal investigation <a class=\"Link\" href=\"https:\/\/www.nytimes.com\/2023\/03\/14\/business\/silicon-valley-bank-investigation.html\" target=\"_blank\" rel=\"noopener\">reportedly<\/a> have been opened. This is the first major failure of its kind since Washington Mutual collapsed in 2008 during the financial crisis. SVB was 16th-largest bank that is federally insured in the United States. <\/p>\n<p>The <i>Washington Examiner<\/i> For comment, we reached out to a representative at Waters.<\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Read more from <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/schumer-watters-relinquish-svb-donations\">SVB&#8217;s collapse: Chuck Schumer &#038; Maxine Waters to renounce political donations<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At least two top Democrats are planning to relinquish political donations from Silicon Valley Bank&#8217;s political action committee in the wake of its collapse. Senate Majority Leader Chuck Schumer (D-NY) donated contributions from the company&#8217;s CEO, Greg Becker, and a PAC affiliated with the bank to charity, according to a spokesperson. Meanwhile, Rep. Maxine Waters<\/p>\n","protected":false},"author":1,"featured_media":1897198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[4632,7385,4303,5256,3753,5540,4411,21356,4110],"class_list":["post-1887193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-chuck","tag-collapse","tag-donations","tag-maxine","tag-political","tag-relinquish","tag-schumer","tag-svb","tag-waters"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1887193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1887193"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1887193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897198"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1887193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1887193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1887193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}