FACT FOCUS: Claims blame ‘woke’ policies on bank’s demise

Some social media users are honing in on a single culprit that led to the demise of Silicon Valley Bank: its socially aware, or “woke,” agenda. But financial and banking experts say the biggest bank failure in U.S. history since the 2008 financial meltdown happened because of poor investment and risk strategies that left SVB with insufficient cash to weather a mass withdrawal of assets from its largely tech sector customers. They say there’s no evidence to support claims that the bank’s stated commitment to supporting and investing in diversity and sustainability efforts played a role in its demise.