On Friday, March 10, 2023 the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and shortly thereafter, on Sunday, March 12, 2023, the NYDFS closed Signature Bank. Each regulator has appointed the Federal Deposit Insurance Corporation as the receiver. The FDIC has established bridge banks for both institutions, and on Sunday the FDIC announced jointly with the Federal Reserve and the Department of the Treasury that the FDIC will fund all deposits at SVB and Signature Bank, whether insured or uninsured.
Providing the best support to our clients and partners is our priority.
Our team is ready to support those affected by bank closures. Reach out if we can help.
From the FDIC
While Dwolla is here to support you in any way we can, the FDIC is your best resource for up-to-date information about bank closures.
Silicon Valley Bank
- FDIC: Deposit Insurance National Bank of Santa Clara to Protect Insured Depositors of Silicon Valley Bank – 3/10/23
- FDIC: FDIC Acts to Protect All Depositors of the former Silicon Valley Bank – 3/13/23
- FDIC: Failed Bank Information for Silicon Valley Bank
- FDIC: Frequently Asked Questions