by Ken Chase | Apr 5, 2023 | Banks, News
In his annual letter to JPMorgan Chase shareholders, longtime CEO Jamie Dimon argued that the current financial crisis in the banking sector is “not over yet.” Though he acknowledged that the recent shocks to the industry are in no way similar to those seen during the...
by Ken Chase | Apr 3, 2023 | Banks, News
Switzerland’s office of the attorney general has announced that it is opening an investigation to determine if any criminal laws were violated during the recent Credit Suisse acquisition by UBS. The investigation will reportedly examine the actions of regulators,...
by Ken Chase | Apr 3, 2023 | Banks, News
President Joe Biden is now urging federal banking regulators to impose tougher regulatory requirements for the nation’s banks, suggesting that increased oversight is necessary to prevent banks like Silicon Valley Bank from collapsing in the future. The President’s...
by Ken Chase | Mar 28, 2023 | Banks, News
North Carolina-based regional bank First Citizens has agreed to purchase Silicon Valley Bank, according to a March 26 statement from the Federal Deposit Insurance Corporation (FDIC). The FDCI confirmed that it had agreed to the deal, which will see the regulatory...
by Ken Chase | Mar 24, 2023 | Financial, News
Federal Reserve Chair Jerome Powell announced yet another interest rate hike during a press conference on Wednesday. That announcement has been largely credited for a drop in the Dow Jones, as stocks plunged by more than 500 points. Regional bank share prices helped...
by Ken Chase | Mar 24, 2023 | Banks, News
Regional bank Pac West Bancorp has secured a $1.4 billion line of credit from an Atlas SP Partners finance facility as part of its effort to boost liquidity, after customers withdrew roughly 20% of their deposits in the first few months of 2023. According to a...
