Tag: SignatureBank

Scott Shay, the former chairman of Signature Bank, faced criticism from US lawmakers for attributing his company's failure to cryptocurrency despite reportedly receiving substantial bonuses and stock options. On May 16, 2023, Shay testified before the Senate Banking Committee, explaining that Signature Bank began accepting deposits from companies involved in ...

During the recent hearing on prudential regulator oversight conducted by the U.S. House of Representatives Financial Services Committee, Martin Gruenberg, Chair of the Federal Deposit Insurance Company (FDIC), disclosed that inadequate management and a lack of liquidity as the primary factors behind the collapse of Signature Bank. Gruenberg specifically pointed ...