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The Latest Breaking News from Signature

Developer of Signature Bank’s 24/7 payment system calls crypto ‘a distraction’

Tassat's CEO said other banks aren't inquiring about implementing its solution for crypto settlement.

Fortune

How New York financial regulator Adrienne Harris claimed an unusual spot in the limelight

All eyes are on her, in the crypto industry and beyond.

Fortune

Americans are over the endless anxiety loop. Only the rich, remote workers, and Gen Zers really care about the banking crisis, according to The Harris Poll

At least nine in 10 Americans feel their money is safe at their bank or credit union, regardless of its size, according to the Harris Poll.

Fortune

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What Is the Dodd-Frank Act? Why Is It Important?

The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law on July 21, 2010. Introduced by Senator Christopher Dodd of Connecticut and Representative Barney Frank of Massachusetts, it sought to reform the financial industry after the Financial Crisis of 2007–2008 and the ...

The Street

Why the biggest players in crypto are worried about Adrienne Harris

The New York bank regulator plays a pivotal role in punishing bad actors and licensing legitimate businesses.

Fortune

The curious tale of Elizabeth Warren and the short-seller

There is a juicy rumor in Washington, D.C., that Sen. Warren's crypto policy has been informed by a short-seller. But is it true?

Fortune

Biden Eyes New Regulations As Congress Dives Into Silicon Valley, Signature Bank Failures

President Joe Biden is expected to tighten regulations on banks, prompted by the biggest banking collapse since the 2008 crisis

Zenger

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Lawmakers open to Biden’s call to claw back SVB executive pay

WASHINGTON — President Joe Biden’s call for legislation that would allow regulators to claw back executive bonuses and stock sale proceeds in the lead up to the Silicon Valley Bank collapse has found a receptive audience on Capitol Hill.

Tribune News Service

Will US consumers have to bail out struggling banks?

WASHINGTON — Could taxpayers wind up bailing out wealthy customers at banks such as Silicon Valley Bank, Signature Bank and others that are struggling?

McClatchy Washington Bureau

Lawmakers open to Biden’s call to claw back SVB executive pay - Roll Call

Lawmakers from both parties are open to executive compensation clawback legislation after the failure of SVB and Signature Bank.

Roll Call

Signature Bank threw a fundraiser for the congressman now probing how it failed

WASHINGTON — Ten days before Signature Bank collapsed, the House Republican overseeing an inquiry into the bank’s failure was inside its boardroom on New York’s Fifth Avenue.

Tribune News Service

Lawmakers float ways to recapture deposit insurance discipline - Roll Call

The size of deposits covered by federal bank rescues has lawmakers talking about the discipline of a cap on deposit insurance.

Roll Call

Elizabeth Warren says Jerome Powell has 'failed' at both of his jobs and shouldn't be Fed chair

Powell's handling of the economy and banking regulations has left a lot to be desired for some critics.

Fortune

US banks on bumpy path as First Republic’s troubles persist

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

Tribune News Service

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WEKU

New York Community Bank agrees to buy a large portion of Signature Bank

The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of New York Community Bank's subsidiaries.

France 24

New York Community Bank to buy large part of failed Signature Bank, US agency says

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday.

The Independent UK

New York Community Bank to buy failed Signature Bank

New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday

Axios

New York Community Bancorp to take over failed Signature Bank

Signature was one of 2 bank failures that threatened to kick off a broader crisis of confidence in the U.S. banking system

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The Independent UK

Bank failures: Anger in Congress, but division on what to do

Congress is trying to figure out how best to respond to the abrupt failure of two U.S. banks

Bangkok Post

Regional banks safe from US contagion

Asia-Pacific banks are resilient to risks related to the failures of their US peers, says Fitch Ratings, noting that regional banks have limited direct exposure to Silicon Valley Bank (SVB) and Signature Bank.

Fortune

Who will bid for SVB?

The FDIC is still trying to sell the bank, which is having trouble finding a buyer.

The Conversation

The collapse of major US banks leads to bills calling for more regulation

When Silicon Valley and Signature banks failed in early March 2023, government regulators rushed in to guarantee deposits and protect bank customers. Under current banking regulations, though, there was no obligation for the government to step in.

The Guardian - US

Why did the $212bn tech-lender Silicon Valley bank abruptly collapse?

Was it the result of Trump-era regulation rollbacks, risk mismanagement at the bank, sharp interest rate rises – or a combination of all three?

The Independent UK

Will Americans end up footing the bill for bank failures?

The government’s response to the failure of two large banks has already involved hundreds of billions of dollars

The Independent UK

Big US banks benefit from surge in deposits after SVB and Signature Bank collapses

Though some consumers have pulled their money out of smaller banks, a Treasury official said those withdrawls have slowed

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