The collapse of Silicon Valley Bank (SVB) was the fault of US President Joe Biden’s administration, Donald Trump has claimed, warning it could lead to a new Great Depression in the United States.
New York-based Signature Bank, with $110.36 billion in assets, has become the third largest bank failure in US history, following the recent collapse of Silicon Valley Bank, but depositors of both banks will be made whole and no losses will be borne by the taxpayer.
Shalanda Young, Biden’s director of the Office of Management and Budget, assured Americans that the banking system was “resilient” amid the collapse of the Silicon Valley Bank (SVP).
The Federal Deposit Insurance Corp. (FDIC) and Federal Reserve are discussing creating a fund to backstop deposits if more banks fail following the collapse of Silicon Valley Bank.
Home Depot co-founder Bernie Marcus discussed the devastating collapse of Silicon Valley Bank, urging Americans to "wake up" and understand that the U.S. economy is in "tough times."
Visa, Mastercard, and Discover have delayed the implementation of a new merchant category code aimed at tracking firearm sales due to legislative proposals and criticism.
A criminal website known as "BidenCash" leaked two million credit and debit cards for the site's one-year anniversary, reportedly operated by Russian-speaking cybercriminals impersonating Biden.
Bank of America (BOA) worked with the FBI to investigate customers who made purchases with BOA credit and debit cards on and around Jan. 6, and pushed those who had made gun purchases to the top of the list, according to whistleblower testimony obtained by the Daily Caller News Foundation.
