Biden, Democrats To Return Political Donations From SVB Bank Execs

US President Joe Biden speaks about the situation in Poland following a meeting with G7 and European leaders on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 16, 2022. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)
  • President Joe Biden’s 2020 campaign and the Democratic National Committee will hand back political donations tied to Silicon Valley Bank, the DNC said Friday.
  • Recipients of donations from the shuttered bank’s political action committee and top executives have come under pressure to return those funds or give them to charity in the wake of SVB’s collapse last Friday.
  • Biden’s campaign and PACs obtained around $11,900 from SVB executives, while the DNC was given at least $32,250, Federal Election Commission filings show. A DNC spokesman told USA Today on Friday that contributions from 2020 or later would be donated to charity.