CFIUS Should Review Any Foreign Acquisitions of Failed US Banks
The Committee on Foreign Investment in the U.S. should “be prepared to carefully review” any investments related to the closures of Silicon Valley Bank and Signature Bank, Sen. Marco Rubio, R-Fla., said in a March 15 letter to Treasury Secretary Janet Yellen. Rubio said he’s concerned China and its companies may be looking to “exploit this moment for their own” benefit after both banks collapsed this week.
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“Beijing rarely allows an opportunity to exploit a crisis to pass by, so CFIUS must work diligently to ensure that promising American firms working in critical technologies do not end up acquired by Chinese conglomerates and others,” Rubio said. A Treasury spokesperson didn’t comment.