by Ken Chase | Mar 20, 2023 | Banks, News
UBS reached an agreement to purchase embattled Credit Suisse on Sunday for a reported $3.2 billion. The agreement came after weekend negotiations orchestrated by the Swiss National Bank and Swiss regulators, which pushed for the emergency rescue as a way to shore up...
by Ken Chase | Mar 18, 2023 | Banks, News
The Financial Times has reported that UBS is currently involved in talks to acquire part or all of embattled Credit Suisse. The Times’ sources reportedly include “multiple people briefed on the talks” who claimed that Switzerland’s central bank and financial...
by Ken Chase | Mar 13, 2023 | Banks, News
The Treasury Department, Federal Reserve Board, and Federal Deposit Insurance Corporation issued a joint statement on Sunday confirming that all Silicon Valley Bank uninsured deposits will be fully covered. The same announcement confirmed similar protections for...
by Ken Chase | Mar 11, 2023 | Banks, News
A new Urban Institute Study cites the need for black depository institutions to boost their technology infrastructure. According to the report, closing the tech gap is necessary to ensure that those black banks and credit unions can expand their service offerings to...
by Ken Chase | Mar 10, 2023 | Banks, News
A trio of plaintiff companies recently filed a class action lawsuit against Bank of America, alleging that the bank knowingly misrepresented their Paycheck Protection Program (PPP) loans. The plaintiffs claim that BofA misled them by claiming that the pandemic-era...
by Ken Chase | Mar 10, 2023 | Banks, News
Financial regulators responded to Silicon Valley Bank’s (SVB) recent collapse by announcing that they have shut the bank down. The decision was made by the California Department of Financial Protection and Innovation, which announced the news on March 10. Those...
