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California Financial Regulator Takes Possession of Silicon Valley Bank | Hacker News Reader

California Financial Regulator Takes Possession of Silicon Valley Bank

dfpi.ca.gov

79 points·smugma··6 comments

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Dupe

https://news.ycombinator.com/item?id=35096877 ("FDIC Takes over Silicon Valley Bank (fdic.gov)")

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California regulators stepped in and took over the bank, then handed over to the Feds.

Sounds like standard procedure.

It would be nice to get an explanation of this two step process. As a state chartered bank, is it up to the state up get the ball rolling formally?

https://portal.ct.gov/DOB/Consumer/Consumer-Education/ABCs-o...

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