PYMNTS-MonitorEdge-May-2024

silicon valley bank

FDIC Sells Failed First Republic Bank to JPMorgan
FDIC Sells Failed First Republic Bank to JPMorgan
May 01, 2023  |  Banking

After weeks of creeping to the edge of collapse, First Republic Bank is no more. Regulators seized control of the struggling California lender over the...

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Regulators Blame Signature for Own Failure and Themselves for SVB’s
Regulators Blame Signature for Own Failure and Themselves for SVB’s
April 28, 2023  |  Banking

In a scathing self-assessment, the Federal Reserve’s autopsy on Silicon Valley Bank’s failure puts blame partially on its own doorstep, as regulator reports on Signature...

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Fed Aims to Strengthen Supervision After Review of Bank Failure
Fed Aims to Strengthen Supervision After Review of Bank Failure
April 28, 2023  |  Bank Regulation

The Federal Reserve aims to strengthen its supervision and regulation after the failure of Silicon Valley Bank. So said Federal Reserve Vice Chair for Supervision...

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UK Weighs More Protections for Uninsured Bank Depositors
UK Weighs More Protections for Uninsured Bank Depositors
April 27, 2023  |  Banking

British officials could reportedly allow uninsured depositors instant access to funds during banking failures. The U.K. Treasury and Bank of England are discussing whether some...

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LendingClub Grew Deposits by $826 Million After SVB Collapse
LendingClub Grew Deposits by $826 Million After SVB Collapse
April 26, 2023  |  Earnings

The collapse of Silicon Valley Bank (SVB) roiled the U.S. financial system last month. San Francisco-based LendingClub, a FinTech lender that became a direct-to-consumer (DTC)...

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Citizens Financial CEO Says Regional Banks Can Compete
Citizens Financial CEO Says Regional Banks Can Compete
April 26, 2023  |  Banking

Regional banks can compete with the bigger banks. So said Citizens Financial Group CEO Bruce Van Saun on Tuesday (April 25) when speaking with Bloomberg’s...

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Silicon Valley Bank Employees to Get Back Some Money
Silicon Valley Bank Employees to Get Back Some Money
April 25, 2023  |  Banking

Silicon Valley Bank employees are reportedly getting back some money after a period of uncertainty. Money that had been withheld from employees’ paychecks to buy...

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First Republic Cutting Up to 25% of Workforce After ‘Unprecedented’ Deposit Outflows
First Republic Cutting Up to 25% of Workforce After ‘Unprecedented’ Deposit Outflows
April 24, 2023  |  Banking

First Republic Bank expects to reduce its workforce by as much as 25% in the second quarter. In its first earnings report since experiencing a...

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SVB CEO and Finance Chief Tender Resignations
SVB CEO and Finance Chief Tender Resignations
April 24, 2023  |  News

The chief executive and CFO of Silicon Valley Bank’s parent company have stepped down. Gregory Becker, CEO of SVB Financial Group, resigned from that role...

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