SVB Collapse Turns Banker Island Retreat Into Lobbying Blitz
- Local banks fuming over larger fees spurred by bank collapse
- Lawmakers split over how to proceed with $250,000 FDIC cap
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The collapse of Silicon Valley Bank and Signature Bank and the ensuing news that US regulators were jacking up lenders’ fees for deposit insurance quickly transformed the Hilton Hawaiian Village this week into ground zero for a lobbying blitz by community lenders.
Senior bankers attending the industry confab were fuming in paradise as they made calls to their political contacts in Washington to argue they shouldn’t have to pick up part of the tab for the errors of two much larger firms that didn’t share their neighborhood focus.