Failed Signature Bank had a deep reach in the NYC rental market

The lender funded approximately 3,000 apartment buildings in the city, according to one source.

By Leslie Shaver • March 14, 2023

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.

By Lyle Moran • March 14, 2023

Explore the Trendline➔

Top 5 stories from Banking Dive

Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.

By Banking Dive staff

Fed, DOJ, SEC will all review Silicon Valley Bank’s failure

Sen. Elizabeth Warren, D-MA, however, demanded that Fed Chair Jerome Powell recuse himself from the central bank’s review, due to be publicly released by May 1.

By Gabrielle Saulsbery • March 14, 2023

Credit Suisse chair forgoes pay as bank reports ‘material weakness’

Share compensation for Chair Axel Lehmann, however, will be increased from 33% to 50%, according to a Tuesday filing with the SEC.

By Rajashree Chakravarty • March 14, 2023

Regional banks begin to bounce back after trickle-down panic

Volatility halts trading twice at First Republic. A dip at First Horizon raises questions about the impending TD merger. And the four biggest banks may come out winners as customers move deposits.

By Dan Ennis • March 14, 2023

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.

By Anna Hrushka • March 14, 2023

Bank failure panic fuels moment of opportunity for threat actors

As regulators step in to operate SVB and Signature, threat hunters and security executives warned organizations to look out for malicious activity.

By Matt Kapko • March 14, 2023

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.”

By Ginger Christ • March 13, 2023

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.

By Rajashree Chakravarty • March 13, 2023

Regulators backstop SVB deposits, launch emergency lending facility

The bank’s depositors received access to all their funds Monday morning. The $25 billion lending facility is aimed at providing liquidity to banks impacted by the firm’s collapse.

By Anna Hrushka • March 13, 2023

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.

By Dan Ennis • March 13, 2023

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.

By Anna Hrushka • March 10, 2023

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.

By Dan Ennis • March 9, 2023

Crypto bank Silvergate shuttering operations, liquidating

"Today we are seeing what can happen when a bank is overreliant on a risky, volatile sector like cryptocurrencies,” Sen. Sherrod Brown, D-OH, said in a statement.

By Gabrielle Saulsbery • March 9, 2023

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.

By Gabrielle Saulsbery • March 7, 2023

Some Celsius customers can make withdrawals now

The bankrupt crypto lender is allowing withdrawals from some custody accounts, it said Thursday. Full funds distribution could start as soon as June.

By Gabrielle Saulsbery • March 3, 2023

First Horizon warns TD deal may be in limbo

The Tennessee bank, in a filing Wednesday, said TD does not expect regulatory approval by the deal's May 27 extended deadline. That could fuel analysts’ questions at TD’s earnings call Thursday.

By Dan Ennis • March 1, 2023

FDIC OIG highlights crypto, cybersecurity challenges

More than 130 FDIC-insured banks have ongoing or planned crypto-related activities, the agency found. Risks from digital assets and new technologies require a whole-of-government response, the report said.

By Rajashree Chakravarty • Feb. 28, 2023

TD to pay $1.2B to settle Ponzi scheme lawsuit

HSBC and a Texas-based bank also agreed to settlements to avoid a trial, set to start Monday, in which investors may have sought up to $10 billion each from TD and HSBC.

By Dan Ennis • Feb. 27, 2023

Fed again denies Custodia’s request for central bank supervision

Meanwhile, Custodia inches closer to facing the central bank in court after a district judge denied a Fed motion to dismiss the bank’s lawsuit against it.

By Anna Hrushka • Feb. 24, 2023

Fed, FDIC, OCC give banks ‘reminder’ on crypto liquidity risk

Thursday's statement offers no new guidance but appears to elevate stablecoin-linked deposits to a heightened risk category.

By Dan Ennis • Feb. 23, 2023

Cannabis banking fintech Dama Financial taps new CEO

Patrick O'Boyle will be responsible for overseeing Dama Financial's strategic direction, growth initiatives and the launch of new products, the firm said.

By Anna Hrushka • Feb. 22, 2023

Custodia accuses Fed of ‘pulling the strings’ in master account denial

The Kansas City Fed reported the rejection “in a coordinated maneuver orchestrated by the [Fed] Board in consultation with the White House and leaked to reporters” a day earlier, Custodia said.

By Anna Hrushka • Feb. 21, 2023

Credit unions’ 72-hour cyberattack reporting window to take effect Sept. 1

“Credit unions must be included in conversations about critical infrastructure,” NCUA Chair Todd Harper said. The agency aims to lay out additional guidance in the coming months.

By Rajashree Chakravarty • Feb. 17, 2023

Carlyle, Credit Suisse paydays show ex-proteges are having a moment

Goldman, Citi alums are due to rake in hefty compensation packages years after their first Wall Street acts ended.

By Dan Ennis • Feb. 14, 2023