Silicon Valley Bank Updates

The latest coverage and analysis from PYMNTS following the dramatic collapse of Silicon Valley Bank (SVB).

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Senators Skewer Failed Bank Execs for ‘Stupid Bets,’ Selfish Management
Senators Skewer Failed Bank Execs for ‘Stupid Bets,’ Selfish Management
May 16, 2023  |  Banking

The failures of Silicon Valley Bank (SVB) and Signature Bank were unlike any in history. U.S. lawmakers are hoping to get to the bottom of...

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Former SVB CEO Blames Fed Rate Hikes and Online Rumors for Bank Failure
Former SVB CEO Blames Fed Rate Hikes and Online Rumors for Bank Failure
May 15, 2023  |  Banking

Federal Reserve rate hikes and online rumors and misconceptions contributed to the collapse of Silicon Valley Bank. So said former Silicon Valley Bank CEO Gregory...

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ACI Worldwide Takeover Slowed by Banking Turmoil
ACI Worldwide Takeover Slowed by Banking Turmoil
May 11, 2023  |  Acquisitions

Motive Partners’ potential acquisition of payments company ACI Worldwide has reportedly run into some roadblocks. The private equity firm is still working on the purchase,...

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Ongoing Banking Turmoil Revives Business Model Debate
Ongoing Banking Turmoil Revives Business Model Debate
May 09, 2023  |  Banking

It has been an eventful few weeks since March’s mini banking crisis. Just last Monday (May 1) JPMorgan bought the subsequently failed First Republic Bank — a previously...

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Buffet: FDIC Avoided Catastrophe by Covering All SVB Customers
Buffet: FDIC Avoided Catastrophe by Covering All SVB Customers
May 07, 2023  |  Banking

“A run on every bank in the country.” That’s the scenario federal regulators helped prevent by covering depositors when Silicon Valley Bank (SVB) collapsed in March, Berkshire Hathaway CEO...

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SVB’s Former Owner May Have to Wait to Claim $2 Billion
SVB’s Former Owner May Have to Wait to Claim $2 Billion
May 04, 2023  |  Regulation

SVB Financial wants to collect $2 billion it is owed. The FDIC says: Wait your turn. The company, which owned the failed Silicon Valley Bank, hopes...

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Report: JPMorgan and PNC Among Bidders for First Republic
Report: JPMorgan and PNC Among Bidders for First Republic
April 30, 2023  |  Banking

PNC and JPMorgan Chase were reportedly among the bidders vying to own First Republic Bank. U.S. regulators auctioned off the struggling bank Sunday (April 30), according to a report by Reuters....

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FDIC Sends Cease and Desist Order to Cross River Over Lending Practices
FDIC Sends Cease and Desist Order to Cross River Over Lending Practices
April 30, 2023  |  Digital Banking

Federal regulators have cited Crypto and FinTech-focused lender Cross River Bank. The Federal Deposit Insurance Corp. (FDIC) issued a cease-and-desist order against the New Jersey-based bank due to its...

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Truist and Other Regional Lenders Haven’t Shaken SVB Fallout Effect
Truist and Other Regional Lenders Haven’t Shaken SVB Fallout Effect
April 20, 2023  |  Earnings

The collapse of Silicon Valley Bank (SVB) disproportionately affected regional banks, as its over-the-weekend failure last month spurred a deposit flight to the presumed safety of “too big to...

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