Investigators are looking into what went wrong in the collapse of Silicon Valley Bank and examining stock sales by bank executives.
Investigators are also examining stock sales by bank executives made days before the bank failed.
When we visited SVB Menlo Park on Friday, the mood of customers was concern and fear that they may lose their businesses after the bank failure. On Monday, some felt relief. The line to get funds back was long and slow moving, some people arrived before the branch even opened at 9 a.m. There was no option for wire transfers and it took about an hour and a half to get through.FDIC employees answered questions along the way before the customers could enter the doors for the first time since last week.
Patience is easier said than done when you're talking about millions of dollars in some cases, like with Otter.ai co-founder and CEO Sam Liang.
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Bank regulators seize Silicon Valley Bank in largest bank failure since the Great RecessionThe bank failed after depositors — mostly technology workers and venture capital-backed companies — began withdrawing their money creating a run on the bank.
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Can the Government Contain a Banking Crisis? - The Journal. - WSJ PodcastsWhen Silicon Valley Bank imploded last week, it was the second biggest bank failure in U.S. history. Then, over the weekend, another bank, Signature Bank, was also taken over by the government. WSJ financial editor Charles Forelle explains what kicked off this banking crisis and how the government is scrambling to contain it. Further Reading: - How Silicon Valley Turned on Silicon Valley Bank - Silicon Valley Bank Closed by Regulators, FDIC Takes Control - Were SVB and Signature Bank Just Bailed Out by the U.S. Government?
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WSJ News Exclusive | Justice Department, SEC Investigating Silicon Valley Bank’s CollapseBreaking: The collapse of Silicon Valley Bank is under investigation by the Justice Department and SEC, including stock sales by officers days before the bank failed
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Silicon Valley Bank collapse under investigation by Justice DepartmentThe Department of Justice and the Securities Exchange Commission are reportedly launching investigations into the collapse of Silicon Valley Bank and stock trades made by the bank's officers.
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Silicon Valley Bank collapse under investigation by Justice Department and SEC: reportRegulators are examining stock sales that officers of Silicon Valley Bank’s parent, SVB Financial, made days before the bank failed, according to a report.
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Justice Dept. investigating Silicon Valley Bank collapseBreaking news: The Justice Department has opened an investigation into the collapse of Silicon Valley Bank and the actions of its senior executives, according to a person familiar with the matter who spoke on the condition of anonymity.
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