The Latest

  • Treasury Secreatry Janet Yellen peers behind her glasses on Capitol Hill.
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    Chip Somodevilla via Getty Images

    Yellen: Government could insure more deposits to stem contagion

    The federal government’s decision to backstop funds at Silicon Valley Bank and Signature Bank could be extended to smaller firms that experience similar deposit runs, the treasury secretary said.

  • A round sign features HSBC's lettering and logo.
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    Matt Cardy/Getty via Getty Images

    Texas adds HSBC to divestment list

    The British bank in December said it would no longer finance new oil and gas fields. Texas’ comptroller called the policy update “a prime example” of a bank “push[ing] a social agenda ... over the economic health of [its] clients.”

  • A judge's gavel is shown sitting idle on a thick, cherry stained, perhaps mahogany desk. The judge's hands are visible but out of focus in the background.
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    Kuzma via Getty Images

    Several Epstein claims dismissed against JPMorgan, Deutsche

    Each bank, however, still must face four claims, a judge ruled Monday. A lawyer for an alleged Epstein victim called it a "monumental victory." 

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive

    FDIC pushes SVB bid deadline to Friday

    The regulator says it's seen "substantial interest." The FDIC split the auction process, allowing bidders to make separate offers for Silicon Valley Private Bank by Wednesday.

  • ftx ceo john ray at house hearing
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    Screenshot, House Financial Services Committee YouTube

    FTX debtors sue Bahamas arm over ownership claims

    FTX Trading, FTX US and others claim that FTX Digital Markets was merely a “corporate shell.” FTX Digital Markets, meanwhile, claims to be the “constructive owner” of FTX’s assets.

  • People walk by a branch of Signature Bank.
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    Spencer Platt via Getty Images

    NYCB’s Flagstar to buy large portion of Signature Bank

    Although Signature has been a darling in the crypto world for years, NYCB won’t be touching that business.

  • A sign showing a company logo seen through a rain-covered window.
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    Justin Sullivan via Getty Images

    Powell, Goldman and FDIC rules are targets in wake of SVB’s failure

    Sen. Elizabeth Warren sent a pointed letter to the Fed chair. President Joe Biden wants Congress to expand FDIC authority. And 20 Democrats raise concern over Goldman's dual role with the failed bank.

  • People enter and exit UBS Bank in NYC.
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    Chris Hondros via Getty Images

    UBS to buy Credit Suisse in $3.25B government-backed deal

    UBS Chair Colm Kelleher said he will slim down Credit Suisse’s investment banking arm, likely bringing an end to the CS First Boston spinoff.

  • Smart phone showing multiple payment apps.
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    Vaidik Trivedi

    With tech’s favorite banks in turmoil, some are choosing loyalty

    After a week of several high-profile bank failures and near-failures, some fintechs don’t see jumping ship as an option.

  • An employee gets into his car after arriving to work to a shuttered Silicon Valley Bank (SVB) headquarters in Santa Clara, California.
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    Justin Sullivan via Getty Images

    SVB’s parent company files for bankruptcy protection

    The move will allow SVB Financial Group “to preserve value as it evaluates strategic alternatives” for venture-capital business SVB Capital and broker-dealer SVB Securities, the company said.

  • A person walks by a First Republic Bank office on March 16, 2023 in San Francisco, California.
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    Chris Hondros via Getty Images

    11 banks deposit $30B in ailing First Republic

    The joint action from the nation’s largest banks follows the collapse of Silicon Valley Bank and Signature Bank, events that have shaken the banking industry and sowed fears of contagion.

  • Credit Suisse Zurich
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    Arnd Wiegmann / Stringer via Getty Images

    Investors sue Credit Suisse over ‘misleading’ 2021 report

    The suit comes as the Swiss National Bank gave the lender a $54 billion lifeline. Credit Suisse on Tuesday detailed "material weaknesses" for 2022 in a delayed report.

  • Wells Fargo branch exterior
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    Courtesy of Wells Fargo multimedia resources

    Wells Fargo ex-exec Tolstedt fined $17M by OCC

    The former retail-banking chief, who will plead guilty to obstructing a bank examination, faces 16 months in prison in the plea deal and has agreed to a ban from the banking industry.

  • People gather outside Silicon Valley Bank.
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    Justin Sullivan via Getty Images
    Deep Dive

    ‘Meme stock in reverse’: SVB collapse portends new era of viral bank runs

    SVB’s demise gave the banking sector a glimpse into how social media and digital banking can turn a financial institution from operational to insolvent in a matter of hours.

  • An SVB sign stands outside the bank's headquarters.
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    Justin Sullivan via Getty Images

    A look at SVB’s new CEO, Tim Mayopoulos

    The former Fannie Mae CEO on Tuesday urged clients who left SVB in the past week to return. The FDIC allegedly has targeted Mayopoulos since 2017 as someone who could steer a seized bank.

  • Mercury co-founders
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    Permission granted by Mercury

    Fintechs offer expanded FDIC insurance in wake of SVB failure

    “It is abundantly clear that $250K FDIC insurance is not enough for startups,” Immad Akhund, CEO of neobank Mercury, said after Silicon Valley Bank’s collapse.

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    sefa ozel via Getty Images

    How fintech founders navigated the SVB collapse

    While many have moved their funds to other banks, some are staying put for now.

  • Gavel and money in the court. Penalty or bribe.
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    designer491 via Getty Images

    Michigan’s Sterling Bancorp pleads guilty in $69M securities fraud

    Sterling’s Advantage Loan Program did not require documents such as tax returns from borrowers. But the bank required a minimum 35% down payment and charged higher fees than competitors, the DOJ said.

  • Credit Suisse Zurich
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    Arnd Wiegmann / Stringer via Getty Images

    Credit Suisse borrows $54B from Swiss central bank

    The embattled bank called the loan a “decisive action to pre-emptively strengthen its liquidity.”

  • A crowd of people stands outside Silicon Valley Bank headquarters.
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    Justin Sullivan via Getty Images

    Nearly 30% of CFOs aim to diversify deposits after bank failures: study

    CFOs should avoid “shifting deposits too quickly away from banks that are not at risk of failure and harming their relationship rates and terms” but also should not act hesitantly, a Gartner executive said.

  • Small wooden box swag from Fed with FedNow logo.
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    Lynne Marek/Banking Dive

    Fed targets July launch for real-time payments service

    The central bank aims to begin certifying FedNow participants next month, it said in a Wednesday release.

  • Michael Barr
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    Tasos Katopodis via Getty Images

    Fed considers stricter capital requirements for midsize banks

    Sen. Elizabeth Warren, D-MA, on Tuesday proposed a legislative route to do the same, but Republicans and even some Democrats are waiting on the Fed's review of recent bank failures.

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    Dan Kitwood via Getty Images

    Anchorage Digital cuts 20% of staff

    “The need for better crypto infrastructure is growing ever clearer,” the company told Bloomberg amid a seven-day span that has seen the closure of three banks heavily invested in the crypto sector.

  • Bank sign on glass wall of business center
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    ultramarine5 via Getty Images

    Signature Bank faces investor lawsuit in aftermath of its closure

    A complaint takes aim in large part at a press release the bank released three days before its closure, in which it indicated it was in strong financial position.

  • A customer stands outside of Silicon Valley Bank
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    Justin Sullivan/Getty Images via Getty Images

    Silicon Valley Bank investors sue collapsed firm’s CEO, CFO

    The proposed class action alleges the failed bank, CEO Greg Becker and CFO Daniel Beck concealed from investors the impact that high interest rates would have on the tech-focused firm’s business.