SVB collapse: Bank donated over $70 million to Black Lives Matter groups before closure

Misty Severi

March 15, 08:28 PM March 15, 08:35 PM

Silicon Valley Bank, which was closed by federal regulators last week, donated just over $73 million to Black Lives Matter-related social justice movements before it was shuttered, according to a conservative database.

A report from the Claremont Institute showed that the bank donated $73,400,000 to Black Lives Matter and other social justice organizations in the wake of George Floyd's death. The donations accumulated over the course of several years. The New York-based Signature Bank, which also closed last week, gave $850,000 over several years to similar groups.

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In the summer of 2020, when Floyd died, SVB pledged to increase its commitment to "diversity, equity and inclusion." In a report from August of that year, CEO Greg Becker touted that two-thirds of the workforce met the company's diversity goal.

The company's employee matching program also focused on "pandemic response, social justice, sustainability, and supporting women, black and Latinx emerging talent, and other underrepresented groups," according to Becker.

The revelation comes as conservative critics attempt to deride the company for its "woke" policies instead of focusing on red flags that could have avoided the bank's downfall.

"[SVB is] one of the most woke banks in [its] quest for the ESG-type policy and investing," Rep. James Comer (R-KY) told WHD News on Sunday. "This could be a trend, and there are consequences for bad Democrat policy."

Democrats have blamed the situation on former President Donald Trump's approval of the Economic Growth, Regulatory Relief, and Consumer Protection Act, which rolled back key regulations that were put in place after the 2008 financial crisis. However, former Massachusetts Democratic Rep. Barney Frank said the rollbacks did not play a role in the bank's collapse.

World Cup 2022: USMNT captain and coach pressured by Iranian journalists over US racial discrimination

Julia Johnson

November 28, 04:21 PM November 28, 04:21 PM

U.S. men's national team head coach Gregg Berhalter and captain Tyler Adams were hounded with pointed questions from Iranian journalists ahead of Tuesday's World Cup match against Iran.

Iran has been under severe scrutiny in the global competition due to the ongoing civil rights issues surrounding the country's women and girls.

“You say you support the Iranian people, but you're pronouncing our country's name wrong. Our country is named 'eee-ron,' not 'i-ran.' Once and for all, let's get this clear,” an Iranian journalist said.

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He then asked Adams if he felt comfortable playing for the USMNT despite there being "so much discrimination against black people in his own borders."

The captain replied that “there's discrimination everywhere you go."

"One thing that I've learned, especially from living abroad in the past years and having to fit in in different cultures and kind of assimilate into different cultures, is that in the U.S., we're continuing to make progress every single day," he explained. "Growing up for me, I grew up in a white family with obviously an African American heritage and background as well."

Adams further lauded the progress being made in the United States.

When Berhalter was hit with questions on the state of geopolitics between the U.S. and Iran as well as inflation in his home country, he told reporters, “I don't know enough about politics. I'm a soccer coach.”

“And I'm not well versed on international politics, so I can't comment on that," he added.

The coach and captain maintained that their focus lies on the match against Iran on Tuesday.

Berhalter has further said the team had no part in recent posts from the U.S. Soccer Federation, which scrubbed the Islamic emblem from Iran's flag. "The players and the staff knew nothing about what was being posted," he said.

"Sometimes things are out of our control. We believe that it's going to be a match that the result will depend on who puts more effort in, who executes better on the field. And we're not focused on those outside things. All we can do on our behalf is apologize on behalf of the players and the staff, but it's not something that we are part of," he continued.

According to ESPN, Iran has since filed a complaint with FIFA's ethics committee.