The Latest Breaking News from Silicon Valley Bank

“Dodd-Frank is still on the books, but its...as good as dead. What good does it do to have a massive set of regulations...if they aren't enforced?” Adam Levitin, a Georgetown University law professor wrote Thursday.

Even retail apps like Starbucks, Chick-fil-A, online gaming apps, and many others are siphoning funds away from traditional banks.

European Union leaders gathered Friday to gauge the risk of a banking crisis developing from recent global financial turbulence and hitting the economy even harder than the energy crunch tied to Russia's war in Ukraine. The deliberations by EU government heads in Brussels follow US regulators shutting down two US…

US bank regulators closed Silicon Valley Bank (SVB) on March 10 2023, after it suffered US$42 billion (£35 billion) of deposit withdrawals in a 24-hour period. This was the largest bank failure since the 2008 global financial crisis and was not supposed to happen again.

Do we have a banking crisis in the United States or don’t we?

SVB at the center of the financial crisis of March 2023 saw several insiders sell shares before the bank run by its customers

"As long as people aren't all coming in at the same time and demanding that their deposits back, you're okay, but that's exactly what's been happening," Prof. Stephan Weiler told Fortune. "So the chances of facing those unrealized losses are going up."

Banking crises have happened before, but this may be the first one accelerated by mobile banking and social media.

New South Wales Labor leader Chris Minns says Sydney is the "most-tolled city" in the world. Does that check out?