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On Ch.2 from @Policedy_Ed. As the United States economy came to a disruptive halt in 2020, Silicon Valley Bank (SVB) experienced a wave of deposits totaling $140 billion. This was the first in a cascade of events which ultimately led to its collapse. https://t.co/fQbt8tqMQo
Ex-FDIC Chair Sheila Bair says it’s wrong for regulators to ‘discourage’ regional bank mergers https://t.co/65wIaMl5UY
“You can’t let any fintech run the show” — @FDICgov @MichaelRoddan gets inside the crumbling marriage of fintech startups & regulated banks. https://t.co/zibJEaPilY https://t.co/jwuqY80dKp
Mercury, a fintech startup that gained popularity after Silicon Valley Bank's collapse, is facing regulatory scrutiny from the FDIC for questionable practices. The FDIC is concerned about the company's behaviors, leading to a closer examination of its operations.
