Bank failures could cause SMB credit crunch

“The current banking crisis could directly lead to a small business crisis if they are not able to quickly access the capital they need to sustain and expand their operations,” Biz2Credit’s CEO said.

By Anna Hrushka • March 22, 2023

SVB Financial says FDIC has $2B of its cash

It likely won't have access to the cash, which would be used to pay back creditors, for months.

By Gabrielle Saulsbery • March 22, 2023

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

6 strategies for smaller banks in a post-SVB world

Lenders racked by last week's crisis of confidence could choose to skirt the FDIC's deposit cap, lean into benefactors, cut costs, dismiss the problem or brace for a hit.

By Dan Ennis • March 22, 2023

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." 

By Dan Ennis • March 21, 2023

FDIC pushes SVB bid deadline to Friday

The regulator split the auction process, so bidders can make separate offers for Silicon Valley Private Bank, also due Friday.

By Dan Ennis • March 20, 2023

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

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

By Rajashree Chakravarty • March 20, 2023

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.

By Gabrielle Saulsbery • March 20, 2023

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.

By Dan Ennis • March 17, 2023

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.

By Gabrielle Saulsbery • March 17, 2023

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.

By Rajashree Chakravarty • March 17, 2023

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.

By Anna Hrushka • March 16, 2023

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.

By Elizabeth Flood • March 16, 2023

Credit Suisse borrows $54B from Swiss central bank

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

By Rajashree Chakravarty • March 16, 2023

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.

By Gabrielle Saulsbery • March 16, 2023

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.

By Anna Hrushka • March 16, 2023

How fintech founders navigated the SVB collapse

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

By Gabrielle Saulsbery • March 15, 2023

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.

By Rajashree Chakravarty • March 15, 2023

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

Silicon Valley Bank’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.

By Anna Hrushka • March 15, 2023

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

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

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

Biden: SVB, Signature customers can ‘rest assured’

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

By Gabrielle Saulsbery • March 13, 2023