Key takeaways: The Irish Data Protection Commission has issued a record-breaking fine of 1.2 billion euros to tech giant Meta for violating EU data privacy…
Posts tagged as “the Silicon Valley Bank”
President Joe Biden has sought to reassure Americans that the nation's financial systems are safe following the closure of two banks, Silicon Valley Bank and Signature Bank, on Friday. The U.S. Treasury, Federal Reserve, and FDIC have guaranteed all deposits and stated that the measures taken to protect SVB deposits will not be funded by taxpayers. Shareholders and bondholders of the failed banks will not be compensated for their losses.
Key takeaways: The Federal Deposit Insurance Corporation (FDIC) is responsible for insuring deposits up to $250,000. Treasury Secretary Janet Yellen said the federal government would…