Amid Bank Meltdown First Citizens Grabs SVB Ex Fed Collins on Comerica as Signature Frank
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by Matthew Russell Lee, Patreon Book Substack
SDNY COURTHOUSE, March 27 – Alongside the larger flame-out of Silicon Valley Bank,New York-based Signature Bank too failed. On Signature Bank's board of directors is not only Barney Frank (who after leaving Congress undermine his own Dodd Frank Act) but also former New York State Superintendent of Banks Derrick D. Cephas.
On March 17, the former parent company of Silicon Valley Bank says it has filed for Chapter 11 protection in New York bankruptcy court to explore "strategic alternatives" to address its $3.3 billion in debt... JPM Chase, being sued for links to Jeffrey Epstein, and Citibank, both pumped deposits into First Republic. Who buy get them?
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On March 26, the regulators gave SVB's branches to First Citizens, without any public comment period or CRA review, despite or because of previous CRA protests to First Citizens - CIT. How far will this go?
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