Justice Department, SEC to probe Silicon Valley Bank collapse, reports

The Justice Department and the Securities and Exchange Commission are reportedly investigating the collapse of Silicon Valley Bank, the largest U.S. bank failure since the 2008 financial crisis.

The two probes are still in their preliminary phases, The Wall Street Journal first reported Tuesday.

The California-based bank was taken over Friday by government regulators. It is the largest bank failure since Washington Mutual was taken over in 2008.

The federal probe may or may not lead to charges, and government investigations are typical after a company suffers major losses.