More than one month after banking alarms sounded across the globe with the collapse of Silicon Valley Bank and Signature Bank, lending institutions are still reeling, and consumers are skeptical. MORE ⬇️
The Federal Reserve is releasing the findings of its investigation into what led to SVB's collapse, but other banks aren't out of the woods.
"Banks fail, but that doesn't mean that they just can't be absorbed into a non-failing bank," said Geoffrey Smith, Clinical Professor of Finance at ASU's W.P. Carey School of Business."That doesn't mean that the building disappears, you know, or anything like that..." The Federal Deposit Insurance Corporation is an independent agency of the U.S. government. It protects and reimburses deposits up to the legal limit of $250,000 per depositor, per insured bank, for each account ownership category.
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Ted Cruz, Jim Jordan press San Francisco Fed on Silicon Valley Bank collapseSen. Ted Cruz and Rep. Jim Jordan wrote to San Francisco Federal Reserve Chair Mary Daly to request information on the Fed's supervision of Silicon Valley Bank prior to its failure.
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Fed's review of role in Silicon Valley Bank collapse due outThe Federal Reserve is scheduled Friday to release a highly-anticipated review of its supervision of Silicon Valley Bank, the go-to bank for venture capital firms and technology start-ups that failed spectacularly in March, setting off a crisis of confidence for the banking industry.
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Regulators to Publish Postmortems on Silicon Valley Bank, Signature FailuresWashington regulators plan to release Friday postmortems of their oversight of Silicon Valley Bank and Signature Bank before they abruptly collapsed last month
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Silicon Valley high schooler nearly moves debate judge to tearsNewsweek Mightier supports the next generation of American leaders as they try to find common ground in our fractious, sometimes toxic, national conversation. Read about one SVUDL high schooler whose passion for debate made a judge emotional:
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Silicon Valley-based tech accelerator expands its digital asset vertical to FrancePlug and Play Tech Center is expanding the scope of its crypto and digital asset vertical to its French office.
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Former Silicon Valley startup CEO pleads guilty to federal fraud chargesProsecutors said the former CEO of Headspin, a business-software provider, had repeatedly given investors false and exaggerated information in order to gain their financial support.
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