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National Bankers Association (NBA) President and CEO Nicole Elam Esq. and Chairman Robert James II released the following statement on March 13 regarding Silicon Valley Bank (SVB) and Signature Bank.
Today, National Bankers Association (NBA) President & CEO Nicole Elam Esq. and Chairman Robert James, II released the following statement regarding Silicon Valley Bank (SVB) and Signature Bank. “In light of recent industry events, the National Bankers Association wants to assure consumers that your money is safe with minority banks. Minority depository institutions are
“In light of recent industry events, the National Bankers Association wants to assure consumers that your money is safe with minority banks. Minority depository institutions are very different from both SVB and Signature Bank, which had high concentrations in crypto deposits and volatile venture capital. Minority banks are not exposed to riskier asset classes and have the capital and strong liquidity to best serve consumers and small businesses. If you’re looking for a place to bring your deposits and have greater impact, bring your deposits to minority banks,” said Nicole Elam, presiden...