SVB Financial accuses FDIC of 'improper actions' to block the firm from accessing $2 billion of its cash
Recent bankruptcy documents show a brewing fight between Silicon Valley Bank's parent company and US federal regulators.
Lawyers for SVB Financial said in the group's first bankruptcy hearing in Manhattan on Tuesday that the FDIC took"improper actions" to block it from accessing its cash, according to"Not only has the bank been taken, all the cash has been taken," the financial group's lawyer James Bromley said at the hearing.
But a lawyer for the FDIC clapped back against the claims during the Tuesday court hearing and said there was nothing improper that was being done by the regulator.
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