Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Mary Ann is on a much deserved break this week, so I am filling in for her, bringing you the hottest fintech news of the previous week. Now let’s dive into the fintech news because you are probably wondering what’s up with your favorite bank, and I promise to get to that first. Let’s go! — Christine
We’ve learned a lot more about the Silicon Valley Bank collapse since the last time you read this newsletter (lots and lots).
The latest being that SVB Financial filed for Chapter 11. And First Republic Bank, which was ensnared in all this mess earlier this week, found some saviors in the way of some of the nation’s largest banks that reportedly came together to bolster the bank with around $30 billion in rescue deposits.
This week, some of my colleagues took a deep dive into the effects on consumers, businesses, banks, investors, and so on —…
