KEY POINTS
  • Senate Majority Leader Chuck Schumer gave campaign contributions from former Silicon Valley Bank CEO Greg Becker and the bank's PAC to charities.
  • The New York Democrat planned to send the contributions to New York-based charities, according to a person with direct knowledge of the matter, who declined to be named.
  • Becker has fallen under the scrutiny of lawmakers since the collapse of SVB, which the Federal Deposit Insurance Corporation took over on Friday.
Silicon Valley Bank's collapse could have ramifications for the technology landscape over the coming years, analysts and investors said.

Senate Majority Leader Chuck Schumer gave campaign contributions from former Silicon Valley Bank CEO Greg Becker and the bank's PAC to charities, his office said Tuesday.

The New York Democrat received the maximum individual contribution of $5,800 from Becker in June 2021, according to the Federal Election Commission. The campaign received $2,700 from the bank's political action committee in 2015, per an FEC filing.