Tag Archives: US bank shuttered after biggest failure since 2008

LOS ANGELES: California’s banking regulators on Friday closed SVB Financial Group, the largest bank failure since the 2008 financial crisis, moving quickly to protect depositors as a crisis at the startup-focused lender rippled through global markets and hit banking stocks. The regulator appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver, putting the tech-heavy lender into receivership and will …

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