California: Governor Newsom Issues Statement on Biden Administration’s Action on Silicon Valley Bank
The Californer/10233199

SACRAMENTO ~ Governor Gavin Newsom of Sacramento has expressed his appreciation for the Biden Administration's swift action in protecting the American economy and strengthening public confidence in the banking system. This weekend's announcement enabled the Federal Deposit Insurance Corporation to complete its resolution of Silicon Valley Bank, ensuring that all depositors are fully protected.

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Newsom believes this will have a positive impact on California, allowing small businesses to make payroll, workers to receive their paychecks, affordable housing projects to continue construction, and non-profits to keep their doors open. He believes that federal leaders have done the right thing in order to ensure that California's innovation economy can continue to grow and move forward.

Filed Under: Government, State

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