Finance

Republican 2024 presidential contender Vivek Ramaswamy believes that more regulation of the financial industry in the wake of the Silicon Valley Bank would encourage crony capitalism.

Federal regulators said Sunday Signature Bank has been shuttered, marking the second massive bank failure after the collapse of Silicon Valley Bank last week.

Treasury Department, Federal Reserve, and the FDIC issued a joint statement Sunday mapping out how regulators will handle the failure of Silicon Valley Bank.

Silicon Valley Bank made a job posting for “Sr. Manager, Financial Crimes" just before regulators shut it down on Friday, according to its website.

Liberals took to social media to place blame on former President Trump after FDIC regulators shut down Silicon Valley Bank on Friday after it lost $2 billion.

Andrew Yang, a businessman and Democratic political candidate in multiple races, urged for government action on the collapse of Silicon Valley Bank warning of mass layoffs.

California Governor Gavin Newsom said in a statement that he's working with the White House and Federal Deposit Insurance Corporation after Silicon Valley Bank was shut down by regulators.

Days before Silicon Valley Bank collapsed, the bank praised itself for being named onForbes magazine's annual ranking of "America's Best Banks" for five years in a row.

Video shows customers lining up outside a Silicon Valley Bank location in Menlo Park, California, on Friday. The bank was seized by California regulators after it went insolvent as customers rushed to access their deposits.

Mortgage interest rates increased again this week after the year opened on a more optimistic note for homebuyers. Meanwhile, mortgage rate volatility persists as the Fed raises interest rates to fight inflation. But the tide may soon turn.

A warrant to seize a $25 million aircraft owned by Russian oil company Rosneft has been obtained after authorities found operations of the jet violated sanctions imposed on Russia.

The inversion of the bond yield curve deepened to its widest spread for two- and 10-year Treasurys since 1981 as Fed Chair Jerome Powell testified before Congress.

White House press secretary Karine Jean-Pierre said in her Monday briefing the Biden Administration has its eyes on Silvergate after the California crypto bank delayed its annual report and announced the shuttering of its exchange network last week.

Republicans on the Senate Banking Committee are expected to grill Federal Reserve Chair Jerome Powell in a Tuesday hearing on Capitol Hill.

Senate Banking Committee Chairman Sherrod Brown is expected at Tuesday's hearing to criticize the Federal Reserve's continuous interest rate hikes.

For the first time since 2017, Goldman Sachs has initiated first Buy on Apple since 2017 after saying shares could climb as high as 36% in 2023.

The Treasury Department slapped three companies and two individuals with fresh sanctions on Wednesday for "illicitly generating revenue" for North Korea.

Binance USD, Binance's stablecoin pegged to the US dollar has seen outflows equivalent to more than 1/3 its market cap as regulatory pressure scares investors away.

The Institute for Supply Management (ISM) said that its Manufacturing Purchasing Managers’ Index (PMI) reached of 47.7 last month after reaching 47.4 in January, notching the third straight month of contraction.

Target reported an increase in sales and revenue for the fourth quarter but CEO Brian Cornell is not as optimistic about the current environment.