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  • President Joe Biden speaks at podium.
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    Drew Angerer via Getty Images

    Biden: SVB, Signature customers can ‘rest assured’

    Investors and certain debt holders, unlike depositors, will not be protected, President Joe Biden said.

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

    Signature Bank closed by NY regulator

    Business clients pulled deposits Friday after the crumbling of fellow crypto-friendly Silicon Valley Bank. An auction for Signature's assets could begin Monday.

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

    HSBC buys UK arm of SVB for symbolic £1

    “Deposits will be protected, with no taxpayer support,” Jeremy Hunt, Britain’s finance minister, tweeted Monday.

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

    Silicon Valley Bank workers will help run the bank until a buyer is found

    Y Combinator petitioned federal finance leaders Saturday “to prevent further shock waves through the economy that could lead to financial crisis and layoffs of more than 100,000 workers.”

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

    Regulators take over Silicon Valley Bank

    The California Department of Financial Protection and Innovation closed the embattled bank and appointed the FDIC as receiver, regulators said Friday.

  • The Goldman Sachs logo is seen on at the New York Stock Exchange on September 13, 2022 in New York City.
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    Michael M. Santiago / Staff via Getty Images

    Ex-Goldman banker Ng sentenced to 10 years in 1MDB case

    Prosecutors last week recommended a 15-year prison term.

  • J.P. Morgan's Fourth Quarter Income Drops Over 30 Percent
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    Chris Hondros / Staff via Getty Images

    JPMorgan sues former exec Jes Staley, wants 8 years of pay returned

    Meanwhile, a judge ordered the bank turn over a wider scope of documents — through 2019 — in response to a U.S. Virgin Islands lawsuit.

  • cryptocurrency graphic
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    Dan Kitwood via Getty Images

    Crypto bank Silvergate shuttering operations, liquidating

    The bank was affected by the collapse of FTX and shut down its crypto payments network last week.

  • Ray McGuire
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    David Dee Delgado / Stringer via Getty Images

    Citi alum Ray McGuire joins Lazard as president

    The move will reunite the former Citi vice chair with Peter Orszag, the ex-Citi dealmaker serving as CEO of Lazard's financial advisory business.

  • Aerial picture of New York City
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    TomasSereda via Getty Images

    Grasshopper Bank leans on fintech partners to weather economic downturn

    “We understand partnerships. And the one thing that I tell people is, once you refer to one of your fintech partners as a vendor, then you're in a bad place,” CEO Mike Butler said.

  • HMBradley credit cards
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    Permission granted by HMBradley

    HMBradley ends waitlist after landing new sponsor bank

    The neobank tapped NYCB as its new sponsor bank after its former partner struggled to keep up with the rapid deposit growth.

  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images

    FedNow may draw in low-income users

    The real-time payments system due later this year could have particular appeal to unbanked and underbanked Americans, Fed researchers say.

  • A laptop screen shows a login screen for an online .
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    ipopba via Getty Images

    Technology gap puts Black banks at risk: report

    Black banks, which help expand credit to underserved areas, risk losing customers if they continue to fall behind their nonminority peers in terms of digital banking offerings, a researcher said.

  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    Permission granted by Office of the Comptroller of the Currency

    Lake Shore Bancorp CEO to retire early amid OCC consent order

    CEO Daniel Reininga had planned to retire in May, but a February consent order overrode an earlier agreement the OCC had with the bank, concerning cybersecurity.

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

    Finance firms outpacing other industries in work flexibility: survey

    Eighteen percent of the 76 banks surveyed said they are fully flexible, while that percentage jumped to 78% for fintechs, a Scoop study found.

  • archway team
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    Permission granted by Archway

    WaFd fintech spinoff Archway launches after $15M funding round

    “We’re trying to close that digital divide so the community and regional banks can really foster those relationships without making them sacrifice the technology side,” said Dustin Hubbard, Archway’s president.

  • Bank of America misled PPP borrowers, lawsuit alleges

    The bank failed to tell borrowers that contractors had a separate means of applying for PPP support, and told firms to apply for higher loan amounts than the SBA would forgive, three small businesses said.

  • Fifth Third Bank President Tim Spence (R) will succeed Greg Carmichael as CEO in July.
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    Permission granted by Fifth Third Bank

    Ex-Fifth Third CEO Carmichael to retire from bank’s board

    The move comes just nine months after Carmichael stepped down as CEO. Fifth Third’s board is shrinking, the bank said, making it unlikely that relatively new CEO Tim Spence will get a seat yet.

  • Marco Santori kraken
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    Marco Bello via Getty Images

    Kraken ‘on track’ to launch bank despite headwinds

    "We're going to have those pens with the little ball chains ... and attach them to the desks of Wall Street banks everywhere. With our logo," Chief Legal Officer Marco Santori said on a podcast.

  • occ acting comptroller michael hsu
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    Alex Wong via Getty Images

    Hsu: Crypto needs lead regulator, global framework of rules

    The OCC's acting chief, during a speech Monday, likened FTX’s collapse to that of the Bank of Credit and Commerce International in 1991.

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    Kevin Dietsch via Getty Images

    Brown calls for public meetings over LMI-area branch closures

    The letter comes after a nonprofit in Toledo, Ohio, submitted a petition over the proposed closure of a Fifth Third branch in the city’s Englewood neighborhood.

  • U.S. Bank
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    U.S. Bank subtly upgrades penalty forecast

    The bank flagged that the CFPB is considering enforcement action over card-based, COVID-era unemployment benefits, and also warned that the SEC is requesting information related to its long-running WhatsApp probe.

  • Business leader assists employee
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    Michele Pevide via Getty Images

    Behind Synchrony’s decision to join Project Black

    The private-label card issuer decided it needed to do more to support entrepreneurs of color and women business owners, so it teamed up with Ariel Alternatives.

  • Exterior of the Federal Reserve building in Washington, D.C.
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    Anna Hrushka/Banking Dive

    Senate Republicans warn Fed to be mindful on capital requirements

    Sen. Tim Scott, R-SC, and nine other lawmakers expressed concern that the Fed's vice chair for supervision did not detail what he meant when he promised a “holistic” review.

  • Citi sign outside of skyscraper
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    Mario Tama via Getty Images

    Citi to cut hundreds of investment banking, mortgage, tech jobs: reports

    The cuts represent less than 1% of the bank’s headcount, people familiar with the matter told Bloomberg and Reuters.