U.S. Republicans seek answers from regulators over SVB’s collapse – Thune

US senators introduce bill giving the president power to ban TikTok at Capitol Hill news conference in Washington

(Reuters) – Most Republican members want answers from regulators as to why they were “asleep at the switch” over the collapse of Silicon Valley Bank and it is premature to discuss legislative solutions to banking problems, the U.S. Senate’s No. 2 Republican John Thune said on Wednesday.

(Reporting by Richard Cowan in Washington; writing by Costas Pitas)

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