PUBLICATION, CLIENT ALERT – ALYSSA J. BRODZINSKI, JENNIFER ILANA TINTENFASS, MARCH 13, 2023
On Friday, March 10, 2023, the California Department of Financial Protection & Innovation, aided by the Federal Deposit Insurance Corporation (“FDIC”) shuttered Silicon Valley Bank (“SVB”) over concerns surrounding its solvency. This marked the first large bank collapse since 2008, and the second largest FDIC-insured bank to ever fail. Read more…