By Monday morning of this week, two banks had failed in quick sequence, including the very high-profile collapse last week of Silicon Valley Bank (SVB) and the closure over the weekend of Signature Bank. SVB got hit with a securities class action lawsuit yesterday, so what had to happen next? Why, a securities suit against Signature Bank, of course. On Tuesday morning, the same plaintiffs’ law firm that sued SVB on Monday filed a separate securities class action lawsuit against Signature Bank and three of its executives. How much further any of this goes from here is the question on everyone’s minds. A copy of the Signature Bank complaint can be found here.Continue Reading SVB Got Sued, So, What Next? A Suit Against Signature Bank, Of Course
Want some good news? During calendar year 2018, there were exactly zero bank failures in the United States. Zero. Nil. Nada. Zilch. The last time there were no U.S. bank failures was waaaay back in 2006. Needless to say, a lot has happened since then. But the best part of all is that because of a strong economy, and because of the purifying effects of the financial refiners’ fire, the banking sector is as healthy as it has been in many years. Hugh Son’s January 10, 2019 CNBC article about the U.S. banks’ current healthy state can be found 
One of the most contentious issues in the litigation the FDIC has been pursuing in its capacity as receiver of various failed banks is whether the defendant former directors and officers can assert affirmative defenses against the FDIC for the agency’s own conduct.
According to the FDIC’s latest Quarterly Banking Profile (