Silicon Valley Bank collapse hits companies such as Camp, Compass Coffee

  • 📰 FoxNews
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 87%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Silicon Valley Bank collapse hits companies such Camp, Compass Coffee

Employees are expected to receive their payments by midnight Friday, over the weekend or Monday at the latest,, the Compass Coffee email said, citing information from the payroll provider. The timeline for the employees would reportedly depend on their bank.

The coffee company was "working tirelessly" on the issue and "taking every possible step" to avoid such a thing occurring again, Haft said. Compass, the email said, changed providers for the coming week.The Federal Deposit Insurance Corporation said in a press release Friday that SVB was closed by the California Department of Financial Protection and Innovation, which in turn appointed FDIC as the receiver of all insured deposits of the bank.

A customer stands outside of a shuttered Silicon Valley Bank headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Depo"All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023," the FDIC said. "The FDIC will pay uninsured depositors an advance dividend within the next week.

SVB’s closure came after the bank earlier this week disclosed mounting losses and announced plans for a $1.25 billion stock sale with little interest.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

Love the Alt-Left economy ! I’m making bacon and eggs for breakfast

I wonder who pulled their money out? Did the military ever find George Soros?

Maybe they could get SBF to look into it . He’s an expert at financial collapse

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 9. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bank stocks plunge after implosions at Silicon Valley Bank and SilvergateBank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send 'shock waves' through the sector
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »