The real reason SVB failed; what minority banks stand to lose amid DEI rollback; CFPB resignations
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Crypto and VC firms led to SVB's failure, researchers say: New research on the failures of Silicon Valley Bank and other regional banks in 2023 points to cyclicality of venture capital and the volatility of crypto as bigger factors than uninsured deposits or unrealized losses.
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Minority banks fear consequences of Trump's DEI rollback: The Trump administration's attack on diversity, equity and inclusion programs raises the question: Will big banks continue their support of minority depository institutions?
CFPB resignations, confusion ahead of court fight: Among the resignations are Mark McArdle, who was instrumental in creating the Qualified Mortgage rule, and Operations Chief of Supervision David Bleicken. It is unclear if the Consumer Financial Protection Bureau will hire anyone to succeed them.
Palantir, backed by Peter Thiel, is planning AI technology for banks: A joint venture between the military-focused Palantir and investment conglomerate TWG will sell cybersecurity protection to financial institutions that are wary about the safety of artificial intelligence.
Green Dot's CEO departs; company to explore strategic options: CEO George Gresham has left the struggling fintech, which will now explore potential strategic alternatives.