Senator Lummis claims FDIC destroyed Operation Chokepoint 2.0 docs
“You must ensure your staff cease and desist destruction of all materials and end retaliatory actions immediately,” Lummis wrote.This post was originally published on this site
Pro-crypto lawyer John Deaton offers to probe Operation Chokepoint 2.0
Not investigating Operation Chokepoint 2.0 would create a dangerous precedent where regulatory bodies can suppress whoever they disfavor, Deaton stressed.This post was originally published on this site
Pro-crypto lawyer John Deaton offers to probe Operation Chokepoint 2.0
Not investigating Operation Chokepoint 2.0 would create a dangerous precedent where regulatory bodies can suppress whoever they disfavor, Deaton stressed.This post was originally published on this site
FDIC chair, ‘architect of Operation Chokepoint 2.0’ Martin Gruenberg to resign Jan. 19
Martin Gruenberg is set to exit as FDIC Chair, with Representative Tom Emmer blasting him as “an architect of Operation Chokepoint 2.0.”This post was originally published on this site
First Republic’s crisis is not an isolated incident: JPMorgan exec
The chief investment officer of J.P. Morgan Asset Management said it would be “naive to say that this is just limited to First Republic.”This post was originally published on this site
US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’
The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a Tesla executive and owner of […]
Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’
Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely monitoring the banking industry. Yellen insisted that “matters […]
Signature’s crypto clients told to close their accounts by April 5: Report
Any crypto deposits not transferred to another bank by April 5 will be liquidated and a check mailed to the client’s address.This post was originally published on this site
On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank
Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S. dollar, eroding trust amid fears about the global banking system. On Wednesday at around 9 p.m. (ET), Credit […]
Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and […]