Regional bank shares sink in sign crisis not yet over
Shares of PacWest Bank plunged nearly 50% Thursday after the company confirmed reports that it was considering ‘strategic options,’ that may include the possible sale of the company
European Central Bank raises interest rates but slows pace
Like the Federal Reserve has done, the ECB is stepping back from a string of jumbo hikes aimed at snuffing out inflation
Fed faults Silicon Valley Bank execs and itself in bank failure
The Fed finds that while poor management ultimately doomed Silicon Valley Bank, watered down regulations and social media’s ability to rapidly hasten a bank run also contributed
Banks are paying savers again after many years of low rates
The Fed has unleashed a rapid series of rate hikes to combat inflation, which has prompted banks to pay higher interest on traditional savings products like money market funds, certificates of deposit and regular savings accounts
JPMorgan Chase profits jump 52% amid banking turmoil
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The bank saw deposits grow noticeably, as business and customers flocked to the banking titan after the failure of Silicon Valley Bank and Signature Bank
Former student aid start-up founder arrested for defrauding JPMorgan Chase
Charlie Javice, 31, of Miami Beach, Florida, was arrested Monday night in New Jersey on conspiracy, wire and bank fraud charges
Coinbase tumbles after SEC warns of securities violations
The cryptocurrency trading platform said in an SEC filing late Wednesday that it had received a Wells Notice from the agency
Washington turns to Wall Street to help rescue dying bank
The anxiety this week centered on First Republic Bank in San Francisco, which was once the envy of the banking sector, with its wealthy and well-traveled clientele
Fed lent $300B in emergency funds to banks in the past week
Nearly half the money went to holding companies for two major banks that failed over the past week, Silicon Valley Bank and Signature Bank
Big banks create $30 billion rescue package for First Republic
The effort seeks to stop the California-based bank from becoming the third bank to fail in less than a week. Shares of First Republic had fallen sharply this week, dropping 60% on Monday alone
Stocks fall on Wall Street on renewed fears about banks
Credit Suisse has been fighting troubles for years, including losses it took from the 2021 collapse of investment firm Archegos Capital
Silicon Valley Bank’s demise disrupts the disruptors in tech
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Entrepreneurs who had deposited all their startups’ money in Silicon Valley Bank are now realizing it makes more sense to spread their funds across several institutions
JPMorgan sues former exec over ties to Epstein sex abuse
The New York bank seeks to hold Staley personally liable for any financial penalties that JPMorgan may have to pay
Jamie Dimon, the world’s most powerful banker: ‘Things can get much worse. We are facing very serious problems’
He has helmed JPMorgan Chase for 16 years and is the only major bank chief to have survived the 2008 financial crisis. Now he is warning people to brace themselves for what may come