Another regional bank is reportedly considering a sale or other moves. Bloomberg reported Wednesday that PacWest Bancorp is mulling those options. The California-headquartered bank has not seen an official process for an auction kickoff so far, according to the report. The outlet attributed the information to unnamed sources “familiar with the matter.” Those sources reportedly […]
Tag: Bank Failures
Will the Fed’s move this week prove disastrous?
The lightning collapse of three banks and financial industry rescue of a fourth has put a spotlight on the Federal Reserve’s decision next week over whether to continue raising interest rates. Just two weeks after Fed Chair Jerome Powell suggested rates could rise even higher than previously projected in a bid to quash inflation, many […]
Biden says “feel confident” in banking system
President Biden says Americans should “feel confident” in their banking system after his administration’s response to the collapse of Silicon Valley Bank (SVB) and Signature Bank last week. Biden reiterated a statement from the FDIC and Treasury Department during public remarks Monday morning, telling reporters that the federal government would guarantee depositors at the banks […]
What role did ESG & DEI play in bank failures?
Three USA-based banks have failed in four days. All of the banks appeared to have been hiring managers for their “identity,” rather than for skill, and were investing heavily in the environmental, social, and governance priorities known as ESG and in the diversity, equity, inclusion priorities known as DEI. They are now being rescued by […]