Silicon Valley Bank is shut down by regulators, FDIC to protect insured deposits – money.andronezia.com
Silicon Valley Bank has been shut down by regulators, who have taken over bank deposits, the Federal Deposit Insurance Corp. announced Friday. The California Department of Financial Protection and Innovation closed the SVB, and designated the FDIC as the beneficiary. The FDIC in turn has created the Santa Clara Deposit Insurance National Bank, which now… Read More »
