Regulation
In his new role as chief operating officer, Selva will take the reins of a multiyear initiative to improve internal controls. Those efforts, which followed regulatory scrutiny, were previously led by longtime banker Karen Peetz, who plans to retire in May.
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Carrie Tolstedt, the former head of retail banking at the scandal-plagued bank, faces 16 months in prison after agreeing to plead guilty to obstructing a bank examination. The plea agreement serves as a warning to senior bank executives who regularly provide information to regulators.
March 21 -
Treasury Secretary Janet Yellen's latest remarks reaffirming the government's willingness to shore up uninsured deposits at troubled banks seem to have calmed markets, but sooner or later regulators are going to have to articulate an official policy.
March 21
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The high-stakes acquisitions of 2008 and subsequent legal liabilities have sapped enthusiasm from many prospective buyers for Silicon Valley and Signature Banks. The Federal Deposit Insurance Corp. may end up having to sell assets piece by piece.
March 17 -
Politicians on both sides of the aisle say the regional reserve bank deserves special scrutiny for Silicon Valley bank's failure. But larger-bank supervision tends to center on the Fed Board of Governors.
March 17 -
Tolstedt, a key figure in the bank's fake-accounts scandal, could face prison time after pleading guilty to a criminal charge of obstructing a bank examination. She also agreed to pay a $17 million fine to bank regulators to resolve certain civil charges.
March 15 -
The bank's tech-sector focus contributed to its rapid demise. But the reasons for its failure come down to the nuts and bolts of banking, and other banks may have similar vulnerabilities.
March 12 -
Federal banking regulators should allow banks to receive Community Reinvestment Act credit for making loans to community news organizations.
March 10 -
The Supreme Court's insistence that Congress expressly authorize regulatory action on 'major questions' is destined to run afoul of the administration's efforts to set rules of the road for cryptocurrency.
March 7 -
Senate Banking Committee Chair Sherrod Brown wants regulators to hold public meetings on branch shutdowns in situations where community members request them. His request follows opposition to a closure in a low-income section of Toledo, Ohio.
March 6
