The failures of Silicon Valley Bank (SVB) and Signature Bank were unlike any in history. U.S. lawmakers are hoping to get to the bottom of just why they were, and how the catastrophes could have been prevented. Executives from the collapsed lenders were in the...
Raising the level of deposit insurance for banks should not go too far. So said Wells Fargo CEO and President Charlie Scharf on Tuesday (May 2) during a panel discussion at the Milken Institute Global Conference. Banks are independent enterprises, are highly regulated and are...
Way back in 1986, the pop band The Bangles had their pulse on what was to come in the banking sector 37 years later. It a familiar refrain in financial services, a lyric we’re all singing these days: Just another Manic Monday. Back in March,...
With a bit of government help and snapping up First Republic Bank, JPMorgan Chase continues to build out its network, crafting an ecosystem that now has a greater number of wealthier depositors in the mix. Monday, the Federal Deposit Insurance Corp. took over First Republic...
June 16, 2023
Beginning next week, bidders will get the chance to purchase Silicon Valley Bank’s German business. The Federal Deposit Insurance Corp. (FDIC) is set to open a data room on June 20 to qualified bidders for the bank’s $460 million German asset portfolio, according to a sales announcement from the agency. The FDIC took over Silicon Valley Bank (SVB) in March after […]
May 02, 2023
Raising the level of deposit insurance for banks should not go too far. So said Wells Fargo CEO and President Charlie Scharf on Tuesday (May 2) during a panel discussion...
March 20, 2023
The Federal Deposit Insurance Corp. (FDIC) is seeing “substantial interest” in Silicon Valley Bank. The regulator said Monday (March 20) that it has extended the bidding process, that it will allow...
March 17, 2023
Consumer sentiment about the economy and their finances slipped in March but remained higher than a year ago. The index of consumer sentiment for the month was 5% lower than...
