Declared and potential Republican presidential candidates are weighing in on the collapse of the Silicon Valley Bank and the Biden administration’s moves to backstop all of its customers’ deposits, with some accusing President Biden and his administration for “bailing out” the bank.

Let’s hit rewind: Last Friday, the U.S. saw its largest bank failure since more than a decade ago when Silicon Valley Bank, whose clients have included ZipRecruiter and Shopify, was taken over by regulators. The move was spurred as the bank was grappling with the Federal Reserve’s interest rate hikes.

What the Biden admin is saying: The Biden administration has said that all deposits from Silicon Valley Bank customers will be backstopped and that taxpayers will not be shouldering the cost, but that the deposits will be covered by a Federal Deposit Insurance Corp. (FDIC) fund, which received fees from the bank. President Biden and Treasury Secretary Janet Yellen have underscored that they’re not bailing out Silicon Valley Bank.

He said, she said: But some 2024 GOP presidential contenders aren’t buying what the Biden administration is promising.

Former U.S. ambassador to the U.N. Nikki Haley argued, “Joe Biden is pretending this isn’t a bailout. It is. Now depositors at healthy banks are forced to subsidize Silicon Valley Bank’s mismanagement. When the Deposit Insurance Fund runs dry, all bank customers are on the hook. That’s a public bailout.”

Republican presidential candidate Vivek Ramaswamy argued in an op-ed for The New York Post published Monday that “everyday customers will have to shoulder the burden of this bailout through higher charges as they top up FDIC.”

Florida Gov. Ron DeSantis (R), widely speculated to be gearing up for a 2024 White House bid, suggested in an interview with Fox News Channel’s “Sunday Morning Futures” that diversity, equity, and inclusion initiatives and politics were to blame for the bank’s collapse but also took a shot at the government, too.

“I also look at it and say, we have such a morass of federal regulations. We have a massive federal bureaucracy,” he said. “And yet they never seem to be able to be there when we need them to be able to prevent something like this.”

Democrats in Ohio are torn about the fact that President Biden hasn’t yet visited East Palestine, a community of close to 5,000 in eastern Ohio close to the Pennsylvania border, after a train derailment spilled toxic chemicals into the area.

Biden said he would visit East Palestine “at some point” while Transportation Secretary Pete Buttigieg has already traveled to the area despite Republican criticism over his response to the incident. While the president has many in his party in Ohio and Pennsylvania defending him for not immediately heading to the community, others have voiced frustration over the lack of travel, as The Hill’s Caroline Vakil reports.

“I think a lot of people are waiting,” former Rep. Tim Ryan (D-Ohio) told Caroline. “A community of people, not just in East Palestine, but around the state, who, in so many ways feel like the federal government has forgotten them, forgotten their plight, forgotten what’s happened to them over the last 30 or 40 years, and then they want the president to show up.”

Meanwhile, other Democrats, like Sen. Sherrod Brown (D-Ohio), suggest disaster relief is the more pressing issue than a presidential visit.

“I don’t care if he visits or not. What I care about is that the EPA’s there, that the Department of Transportation’s there, that the NTSB [National Transportation Safety Board] is there. And we’re all there pushing for this legislation and pushing Norfolk Southern,” Brown told Caroline.