Schumer will give campaign donations from Silicon Valley Bank's ex-CEO, PAC to charity

Senate Majority Leader Chuck Schumer volition springiness run contributions from erstwhile Silicon Valley Bank CEO Greg Becker and the bank's PAC to charities, according to a idiosyncratic with nonstop cognition of the matter.

The New York Democrat received the maximum idiosyncratic publication of $5,800 from Becker successful June 2021, according to the Federal Election Commission. The run received $2,700 from the bank's governmental enactment committee successful 2015, per an FEC filing.

The New York Democrat plans to nonstop the contributions to New York-based charities, according to the person, who declined to beryllium named.

Becker has fallen nether the scrutiny of lawmakers since the illness of SVB, which the Federal Deposit Insurance Corporation took over connected Friday. Federal regulators person moved to incorporate the harm from the bank's nonaccomplishment and guarantee it does not pb to a broader crisis.

Lawmakers person questioned what led to the bank's failure, and immoderate Democrats person started to propulsion for tighter safeguards astir the fiscal sector. Lawmakers including Sen. Elizabeth Warren, D-Mass., have pressed Becker directly connected the bank's failure.

Rep. Maxine Waters, D-Calif., said she volition instrumentality the publication she received from Becker, according to reporting from Politico.

A typical for Sen. Mark Warner, D-Va., who received a $2,900 publication to his run from Becker, did not respond to a petition for comment.