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Jason Cohen
Daily Caller News Foundation
SVB Financial Group, the parent company for California tech lender Silicon Valley Bank (SVB), filed for Chapter 11 bankruptcy protection in New York Friday, the biggest filing of its kind since Washington Mutual Inc. in 2008.
SVB, which was SVB Financial Group’s main business, was taken over by federal regulators after it collapsed due to a bank run last week, with the Federal Reserve intervening to insure depositors.
