{"id":1875436,"date":"2023-03-13T09:56:11","date_gmt":"2023-03-13T13:56:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/latest-bank-to-fail-refused-then-president-trumps-business-in-2021\/"},"modified":"2023-03-13T10:01:12","modified_gmt":"2023-03-13T14:01:12","slug":"latest-bank-to-fail-refused-then-president-trumps-business-in-2021","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/latest-bank-to-fail-refused-then-president-trumps-business-in-2021\/","title":{"rendered":"Latest Bank To Fail Refused Then-President Trump\u2019s Business In 2021"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flatest-bank-to-fail-refused-then-president-trumps-business-in-2021%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1875436&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"https:\/\/www.dailywire.com\/news\/letters-to-trump-former-president-to-publish-private-notes-he-got-from-oprah-other-celebs\/\" target=\"_blank\" rel=\"noopener\">Former President Trump<\/a> might be glad <a href=\"https:\/\/www.dailywire.com\/news\/regulators-shut-down-second-bank-in-race-to-contain-fallout-from-silicon-valley-bank-collapse\/\" target=\"_blank\" rel=\"noopener\">Signature Bank<\/a> refused his business following the Capitol riot, now that the New York-based lender is the latest institution to be shut down by regulators.<\/p>\n<p>Word that the New York state regulators had closed down the bank came on Sunday, just two days after the California-based <a href=\"https:\/\/www.dailywire.com\/news\/regulators-shut-down-major-tech-bank-after-run-on-savings\/\" target=\"_blank\" rel=\"noopener\">Silicon Valley Bank collapsed<\/a>. The activity has generated fears that jittery depositors could try to withdraw their savings from lenders around the country, potentially destabilizing the banking system. But back in 2021, Signature Bank didn\u2019t want one billionaire\u2019s business.<\/p>\n<p>\u201cWe witnessed the President of the United States encouraging the rioters and refraining from calling in the National Guard to protect the Congress in its performance of duty,\u201d Signature Bank said in a statement at the time. \u201cAt this point in time, to ensure the peaceful transition of power, we believe the appropriate action would be the resignation of the President of the United States, which is in the best interests of our nation and the American people.\u201d<\/p>\n<p>CNBC reported that Signature Bank was deeply invested in volatile cryptocurrency and had $110.4 billion in total assets and $88.6 billion in total deposits as of the end of 2022. After Sunday\u2019s move by state regulators, the Federal Deposit Insurance Corporation took control of the bank.<\/p>\n<p>The shutdown of Silicon Valley Bank, the nation\u2019s 16th-largest lender, was the biggest collapse of a bank since Washington Mutual in 2008. Federal officials insisted Sunday that all Silicon Valley and Signature Bank\u2019s depositors will be made whole.<\/p>\n<p>\u201cWe are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,\u201d federal officials from agencies including the Treasury Department said in a joint statement Sunday. \u201cAll depositors of this institution will be made whole,\u201d noting \u201cas with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.\u201d<\/p>\n<p>It was not clear how depositors would get their money back. The FDIC insures deposits up to $250,000, but Silicon Valley Bank is believed to have held massive cash reserves for tech companies, wineries, and venture capitalists. Further clouding matters, Treasury Secretary Janet Yellen said on a Sunday morning news show there would be <a href=\"https:\/\/www.dailywire.com\/news\/no-bailout-for-collapsed-silicon-valley-bank-yellen-says\/\" target=\"_blank\" rel=\"noopener\">no bailout of Silicon Valley Bank<\/a>.<\/p>\n<p>In addition to being heavily invested in cryptocurrencies, both Silicon Valley and Signature banks were advocates of so-called Environmental, Social, and Governance policies, which put woke ideologies ahead of maximizing profits.<\/p>\n<p>Other lenders were reportedly asked to bid on taking over the assets of Silicon Valley Bank, although at least one, PNC, said it was not interested.<\/p>\n<p>President Joe Biden sought to assure depositors in a speech early Monday.<\/p>\n<p>\u201cAmericans can have confidence that the banking system is safe, your deposits will be there when you need them,\u201d he said. \u201cNo losses will be borne by the taxpayers.\u201d<\/p>\n<p><\/p>\n<hr>\n<p>&#8220;From <a href=\"https:\/\/www.dailywire.com\/news\/latest-bank-to-fail-refused-then-president-trumps-business-in-2021\">Latest Bank To Fail Refused Then-President Trump\u2019s Business In 2021<\/a>&#8220;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former President Trump might be glad Signature Bank refused his business following the Capitol riot, now that the New York-based lender is the latest institution to be shut down by regulators. Word that the New York state regulators had closed down the bank came on Sunday, just two days after the California-based Silicon Valley Bank<\/p>\n","protected":false},"author":729,"featured_media":1891241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[5161,5373,4284,10875,6635,21457,3794],"class_list":["post-1875436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-5161","tag-bank","tag-business","tag-fail","tag-refused","tag-then-president","tag-trumps"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1875436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/729"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1875436"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1875436\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1891241"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1875436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1875436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1875436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}