Dimon: ‘Current Crisis Is Not Over Yet’

Dimon: ‘Current Crisis Is Not Over Yet’

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...
First Citizens to Buy Silicon Valley Bank

First Citizens to Buy Silicon Valley Bank

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...
Regulators Shut Down SVB

Regulators Shut Down SVB

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...