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California bank regulators shuttered SVB on Friday and the FDIC set up an intermediary bank to take over the bank’s insured deposits.
The Justice Department has opened an investigation into the collapse of Silicon Valley Bank, two people with knowledge of the matter said. The investigation is in its early stages, and it is unclear what federal prosecutors are focused on, one of the sources said.
Experts told ABC News regulators missed "red flags" before the collapse.
The collapse of Silicon Valley Bank is the largest failure of a financial institution since Washington Mutual went under in 2008. The Onion asked tech moguls how they felt about the bank’s failure, and this is what they said.
(WASHINGTON) -- The collapse of Silicon Valley Bank is putting deregulatory reforms implemented under former President Donald Trump back in the spotlight. The a