WASHINGTON — Senator Mike Braun released the following statement on protecting Hoosiers and Indiana’s community banks from bearing the costs of President Biden’s bailout for Silicon Valley Bank.
“Community banks and their customers in Indiana should not be on the hook for bailing out Silicon Valley Bank and Signature Bank for their risky financial decisions. President Biden created this chaos with his inflation bomb spending agenda, and now he wants Hoosiers to pay for his coastal elite bailout through increased fees at their banks. I’m exploring legislative actions to make sure the costs of this bailout don’t get passed onto regular Americans.” – Senator Mike Braun