Breaking News
SVB Financial Awaits $2 Billion Recovery from FDIC Amid Bankruptcy and Banking Crisis
SVB Financial, the former owner of the failed Silicon Valley Bank, is seeking to recover $2 billion in deposits held in receivership by the Federal Deposit Insurance Corp. (FDIC). However, according to bankruptcy court papers filed by the FDIC on May 3, SVB bondholders can only recover the cash through the receivership process.
SVB Financial Group declared bankruptcy in March, intending to use the process to preserve value while exploring alternatives for its other businesses, including SVB Securities and SVB Capital, which were not included in the Chapter 11 filing. The FDIC argues that once it claimed control of SVB, it also took ownership of all deposits in the bank, making SVB Financial’s claim a “”promise to pay”” from the bank.
The bankruptcy declaration came days after the FDIC took control of Silicon Valley Bank following a run on deposits that initiated an ongoing banking crisis. The effects of the collapse continue to impact the industry, with shares of other regional banks, such as PacWest Bancorp and Western Alliance, starting to slide as well.
Companies In This Post
- TradeStation Expands into Europe, Unlocking Full U.S. Trading Experience for Retail and Institutional Investors Read more
- ING Hires Aled Patchett to Lead UK Sector Strategy Read more
- Prosci: Mitigating Human-Side Friction: Deploying Research-Backed Change Management and Executive Coaching Rails Read more
- MNP and Caseware Partner to Build the Future of Agentic Audit Read more
- Driving Sustainable Profit in Fintech with Torus, payabl., and Raiffeisen Bank International Read more
MNP and Caseware Partner to Build the Future of Agentic Audit
Caseware, the leading AI platform for assurance and financial reporting, today announced, two major milestones with MNP, one of the largest professional services firms in Canada. MNP has selected Caseware to further its audit transformation, deploying Caseware’s full Cloud Engagement Solutions suite across its practice. Simultaneously, MNP has joined the Caseware Agentic Pioneer Program as a founding member — a strategic co-development partnership that will see MNP build and deploy firm-specific AI agents on Caseware’s governed AI platform. Together, these agreements mark a significant step in MNP’s evolution into a cloud-first, AI audit practice.
Satispay Targets up to €120 Million to Support New Financial Services Push
Momentum S.p.A. (the “Company”) — the holding company of Satispay Group, a European fintech platform combining payments and financial services — announces that, as of today, the Shareholders’ Meeting has been convened, in both ordinary and extraordinary session, for 29 June 2026. Among the items on the agenda is a resolution regarding a capital increase, to be offered as a pre-emptive right to existing shareholders, for a maximum amount of €120 million, to support the acceleration of the Company’s growth strategy and evolution into a comprehensive financial platform.
GoHenry to Join Barclays to Help Even More UK Kids Get Smart With Money
GoHenry is entering into an agreement to be acquired by Barclays to accelerate its mission to make every kid smart with money
Innovate Finance Launches 4th Annual Pride in FinTech PowerList 2026, With New Mentorship Programme and Leadership Council
Innovate Finance is proud to announce the launch of the fourth Pride in FinTech Powerlist 2026, alongside two landmark new initiatives
Migratum Launches App Across Five Markets Naming A New Category: Identity and Financial OS for the World’s Migrants
Migratum announced the public launch of its platform and mobile application marking the first deployment of a fully integrated identity and financial operating system
Fitch Solutions Launches Corporates Scorecard To Enhance Credit Risk Decisions
Fitch Solutions, a leading global provider of insights, data, and analytics, has launched its new Corporates Scorecard, allowing clients to make better-informed credit risk decisions across their entire portfolio of rated and unrated corporate entities.
HABIBMETRO Bank Selects BPC’s SmartVista to Power Next-Generation Issuing and Payments Innovation in Pakistan
Habib Metropolitan Bank (HABIBMETRO), one of Pakistan’s leading trade finance banks, has selected BPC’s next-generation SmartVista platform to power its issuing capabilities and enhance transaction processing. This move is part of a broader digital transformation journey to creating a scalable, future-ready technological foundation for payments and digital services growth.
TradeStation Expands into Europe, Unlocking Full U.S. Trading Experience for Retail and Institutional Investors
TradeStation Group, Inc. (“TradeStation”) today announced the launch of TradeStation Europe B.V. (“TradeStation Europe”), a fully licensed MiFID Investment Firm in the European Union, regulated by the Dutch Authority for the Financial Markets (AFM) in the Netherlands, to operate as an investment services firm in Europe.
ING Hires Aled Patchett to Lead UK Sector Strategy
ING has appointed Aled Patchett as Head of Sectors UK, as the bank steps up its push to deepen client coverage and drive cross-product growth in the UK market.
Prosci: Mitigating Human-Side Friction: Deploying Research-Backed Change Management and Executive Coaching Rails
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
MNP and Caseware Partner to Build the Future of Agentic Audit
Caseware, the leading AI platform for assurance and financial reporting, today announced, two major milestones with MNP, one of the largest professional services firms in Canada. MNP has selected Caseware to further its audit transformation, deploying Caseware’s full Cloud Engagement Solutions suite across its practice. Simultaneously, MNP has joined the Caseware Agentic Pioneer Program as a founding member — a strategic co-development partnership that will see MNP build and deploy firm-specific AI agents on Caseware’s governed AI platform. Together, these agreements mark a significant step in MNP’s evolution into a cloud-first, AI audit practice.
Driving Sustainable Profit in Fintech with Torus, payabl., and Raiffeisen Bank International
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Eastnets: Navigating the New Era of Instant Payments and Global Fraud Prevention
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
The Dual-Edged Sword of Artificial Intelligence: Structuring Governance Protocols for High-Velocity Financial Solutions
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]