Biden, DNC will give Silicon Valley Bank-tied donations tied to charity

The Democratic National Committee and President Biden's 2020 campaign plan to rid themselves of political donations linked to the failed Silicon Valley Bank.

Biden’s presidential campaign is returning $8,400, and the DNC will return $12,050, the DNC said on Friday.

The move echoes what other high-profile Democratic lawmakers have pledged to do with contributions from the collapsed bank.

After the bank's March 10 collapse, the Biden administration announced it would bailout the failed bank.