Mar 13, 2023 · On Friday, March 10, 2023, Silicon Valley Bank, Santa Clara, CA was closed by the California Department of Financial Protection & Innovation and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

Mar 13, 2023 · WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today transferred all deposits—both insured and uninsured—and substantially all assets of the former Silicon Valley Bank of Santa Clara, California, to a newly created, full-service FDIC-operated ‘bridge bank’ in an action designed to protect all depositors of Silicon ...

Jan 16, 2025 · The FDIC on Thursday sued 17 former executives and directors of Silicon Valley Bank, seeking to recover billions of dollars for alleged gross negligence and breaches of fiduciary duty that caused ...

Jan 17, 2025 · (Reuters) — The FDIC sued 17 former executives and directors of Silicon Valley Bank on Thursday, seeking to recover billions of dollars for alleged gross negligence and breaches of fiduciary duty...

Mar 12, 2023 · The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation announced Sunday that they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, will be paid in full.

Jan 17, 2025 · The Federal Deposit Insurance Corp. has sued 17 former executives and board directors of Silicon Valley Bank for alleged negligence and breach of fiduciary duty, which led to the lender's collapse in March 2023 before the agency stepped in as its receiver.. The lawsuit, filed Thursday in a U.S. district court in California, seeks to recover billions of dollars in damages caused by SVB’s ...

Jan 17, 2025 · The FDIC yesterday sued 17 former executives and directors of Silicon Valley Bank, alleging their gross negligence led to the collapse of the institution. The agency is seeking to recover damages for the third-largest bank failure in U.S. history.

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First–Citizens Bank & Trust Company, Raleigh, North Carolina.

Mar 12, 2023 · Federal regulators will safeguard all deposits at Silicon Valley Bank, including money that isn’t normally covered by federal deposit insurance, the Treasury Department announced Sunday...

Jan 20, 2025 · The FDIC as receiver of the failed Silicon Valley Bank has filed a negligence and breach of fiduciary duty action against the bank’s former directors and officers. The complaint alleges that it the FDIC’s lawsuit is “a case of egregious mismanagement of interest-rate and liquidity risks by the Bank’s former officers and directors.”