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In prepared testimony published on Monday by the Senate Banking Committee, Becker said he believed the bank was responsive to regulator concerns about managing risk and working to address issues before an "unprecedented" bank run led to its failure. Becker said he did not believe "that any bank could survive a bank run of that velocity and magnitude." The former executives for New York-based Signature Bank, which also failed in March, maintained the bank could have survived had regulators not chosen to close it, according to separate testimony. California banking regulators moved quickly to shut SVB down on March 10 after depositors withdrew $42 billion in 24 hours. Regulators closed Signature on March 12 after it also experienced liquidity issues following SVB’s collapse.

☆ Stocks week ahead: SVB and Signature Bank execs are set to testify next week
▼ + stars: | 2023-05-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

The US Senate Committee on Banking, Housing and Urban Affairs is holding three hearings this coming week centered around the collapses of Silicon Valley Bank and Signature Bank in March. ET : Greg Becker, former chief executive, Silicon Valley Bank; Scott Shay, former chairman and co-founder, Signature Bank and Eric Howell, former president, Signature Bank. ET : Mark Bialek, inspector general, Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau; Paul Kupiec, senior fellow, American Enterprise Institute and more. Since then, the Federal Reserve and Federal Deposit Insurance Corporation have released reports detailing management missteps at SVB and Signature Bank, as well as federal regulators’ own mistakes in properly addressing red flags preceding the banks’ demises. A separate report from the Federal Reserve Bank of New York on Friday shows that American households are becoming increasingly frugal.

☆ Former top execs of SVB and Signature Bank will testify at Senate hearing this month
▼ + stars: | 2023-05-03 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +1 min

People walk by a Manhattan branch of Signature Bank which was closed by bank regulators on Sunday on March 13, 2023 in New York City. WASHINGTON — Former top executives of the failed Silicon Valley Bank and Signature Bank will testify before the Senate on May 16, the chamber's Banking Committee announced late Wednesday. Scott Shay and Eric Howell were the chairman and president, respectively, of New York-based Signature Bank when it collapsed just days after SVB's failure. Former Signature Bank CEO Joseph DePaolo received a similar letter at the time. The former bank executives can expect a grilling from senators on both sides of the aisle.

[1/3] Federal Reserve Board Vice Chair for Supervision Michael Barr and Federal Deposit Insurance Corporation Chairman Martin Gruenberg testify at a House Financial Services Committee hearing on the response to the recent bank failures of Silicon Valley Bank and Signature Bank, on Capitol Hill in Washington, U.S., March 29, 2023. REUTERS/Kevin LamarqueMay 2 (Reuters) - The U.S. Senate Banking Committee said on Tuesday it would hear from former top officials at the failed Silicon Valley Bank and Signature Bank, as well as top U.S. banking regulators at separate hearings later this month. Gregory Becker, the former CEO of Silicon Valley Bank, and Scott Shay and Eric Howell, former senior executives for Signature Bank, will appear on May 16. On Monday, regulators closed a third firm, First Republic, which then was sold to JP Morgan Chase. The panel will also hear from top regulators for the states of New York and California, which helped oversee the two failed firms.

☆ Montana's House just voted to censure its first openly transgender lawmaker after protests and days of not letting her speak
▼ + stars: | 2023-04-26 | by ( Madison Hall | ) www.businessinsider.com time to read: +4 min

The Montana House of Representatives voted to censure its first transgender legislator. State Rep. Zooey Zephyr was censured days after protestors interrupted the legislature because the House speaker wouldn't recognize her on the floor. In doing so, Zephyr will not be allowed on the House floor or gallery for the remainder of the legislative session. State Rep. SJ Howell, a Democratic legislator who is nonbinary, spoke in support of Zephyr on Wednesday and said the protests on Monday were unsurprising. Now, after Zephyr's censure, a similar problem could occur for Montana Republicans as Zephyr increasingly gets placed into the spotlight.

And, as it's global liquidity that matters, the bowl is also kept brimming as the Bank of Japan continues to buy government bonds at pace. But a study looking at the U.S. banking shock that led to the failure of Silicon Valley Bank and Signature Bank last month and deposit runs across many regional banks suggests a different angle - a 'deposit glut' from within the richest countries that is increasingly unstable. "In a context of rising wealth inequality and growing corporate savings, an increasing share of bank deposits is uninsured and held by sophisticated agents," Vuillemey wrote. "This implies that these deposits are increasingly fragile, and that deposit insurance schemes ... are slowly losing bite." As illustrated in Technicolor in the SVB run, big uninsured deposits are volatile - sensitive as they are to any hint on the bank's health and moveable at push of a button.

WASHINGTON, April 20 (Reuters) - A U.S. federal judge in Washington on Thursday denied former Peruvian President Alejandro Toledo's bid to block his extradition to Peru, where he faces corruption charges. His lawyers had filed for an emergency stay earlier in the day to block his extradition, which was planned for Friday. "His emergency motion to stay is denied," U.S. District Judge Beryl Howell said in an order on Thursday. In her ruling, Howell said Toledo "has long been afforded substantial process" in the U.S. courts to contest his extradition. Howell, citing various legal factors, also said Toledo had failed to "demonstrate entitlement" to a stay of his extradition.

☆ The messy, high-stakes world of private equity's fossil-fuel dilemma
▼ + stars: | 2023-04-20 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Most major private-investment firms are working to cut down on emissions their portfolio companies send into the atmosphere. It's also set targets to get three-quarters of its majority-owned power-and-energy portfolio companies' emissions that they generate directly and indirectly covered by Paris-aligned climate goals by 2025. A growing number of private-equity firms' pension-fund limited partners are under pressure themselves to either invest around environmental, social, and governance matters or shun investing through those lenses altogether. Firms' plans with their upstream investments tend to draw the most attention because they're involved in drilling for new oil and gas. If you're a private-equity firm and you continue to make new upstream investments, I don't believe you have a Paris-aligned plan.

Trump won 76% of the white evangelical vote in 2020, down from 80% in 2016, according to Edison Research exit polls. In a March poll, Trump edged DeSantis among evangelicals in a two-way matchup 51% to 42%, a nine-point improvement for Trump from the month before. The gathering is traditionally an important stop for Republican presidential candidates, although this year DeSantis, who was invited, will not be going. Vander Plaats said evangelicals will consider whether Trump can prevail next year after losing the 2020 election to President Joe Biden. “I don’t think President Trump is a principled man -- I think he was a great president,” Ascol said.

☆ Former Trump adviser Stephen Miller appears at D.C. federal court where Jan. 6 grand jury meets
▼ + stars: | 2023-04-11 | by ( Rebecca Shabad | ) www.cnbc.com time to read: +2 min

Former Trump adviser Stephen Miller arrived Tuesday at the U.S. District Court in Washington, D.C., and was seen entering the area where the grand jury tied to special counsel Jack Smith's Jan. 6 investigation meets. The grand jury is investigating the role former President Donald Trump played in the Jan. 6 riot and efforts to overturn the 2020 election results. His appearance at the federal court comes after a three-judge panel of the U.S. Court of Appeals for the D.C. Meanwhile, Trump on Monday filed an appeal in federal court in an effort to block former Vice President Mike Pence from testifying before the federal grand jury. It's unclear when Pence would appear before the grand jury in Washington, a source familiar with the matter said last week.

☆ 4 things every small-business owner should consider before launching a brand podcast
▼ + stars: | 2023-04-04 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +8 min

Brand podcasts can bring in new customers and nurture relationships with existing partners. They give technical advice on cost, production, and careful considerations for your launch strategy before starting a brand podcast. Insider spoke with five small-business owners to learn how they ran successful brand podcasts while prioritizing their actual businesses. Olivia Dreizen Howell, a cofounder of Fresh Starts Registry and the brand podcast "A Fresh Story," swears by the free Spotify for Podcasters editing tools. Leverage your network for launchIt's easy to lose momentum if you launch a brand podcast and don't quickly see some traction.

☆ Podcasts can help small-business owners build their brands and win new customers. Here's how.
▼ + stars: | 2023-03-28 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +8 min

Insider talked to small business owners who say brand podcasting has helped them build trust and credibility with customers. The channel is a cost-friendly way to connect with prospective customers, as well as other industry leaders. Podcasts can help you scale your businessMany small-business owners see podcasts as an important way to acquire loyal customers. Courtesy of Tania BhattacharyyaBhattacharyya added that she uses her podcast episodes to help guide prospective customers through the sales process. Bhattacharyya had a podcast episode on the subject that she was able to send her.

☆ Is your money safe? A financial planner explains whether you should be concerned about your deposits, and how to take advantage of risk-free returns on your cash
▼ + stars: | 2023-03-25 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

The recent lineup of bank failures has depositors suddenly asking the simple question: is my money safe? Jason J. Howell, a certified financial planner and the president of Jason Howell Company, says yes, your money is safe. This way, if you need cash quickly, you could get it. "You're going to have to go to the US TreasuryDirect to buy those bonds," Howell said. "Money markets nearly went bust in the 2008 financial crisis, so there's no need to put a wrapper around it," Howell said.

☆ Ex-Trump lawyer appears before grand jury as U.S. probes swirl
▼ + stars: | 2023-03-24 | by ( Sarah N. Lynch | ) www.reuters.com time to read: +5 min

Corcoran and his attorney Michael Levy entered the federal courthouse in Washington and went to the third floor, where the grand jury typically meets. Attorneys for Trump did not respond to a request for comment on the court order compelling Meadows and other former aides to testify. At that June meeting, the lawyers handed over a single envelope containing 38 documents with classified markings. Corcoran is one of multiple Trump attorneys who have been summoned to appear before the grand jury. Tim Parlatore, another attorney, voluntarily testified before the same grand jury in December to explain the steps Trump's legal team took to comply with the May 2022 subpoena.

☆ Judge declines Trump's bid to stop ex-aides from testifying before grand jury in Jan. 6 probe
▼ + stars: | 2023-03-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

President Donald Trump is seen on a screen speaking to supporters during a rally to contest the certification of the 2020 U.S. presidential election results by the U.S. Congress, in Washington, January 6, 2021. A federal judge ordered ex-President Donald Trump's former aides, including his ex-chief of staff Mark Meadows, to testify before a grand jury in Washington, D.C., investigating Trump's efforts to overturn his 2020 election loss ahead of the Jan. 6 Capitol riot, NBC News reported Friday. In a sealed order, U.S. District Judge Beryl Howell ruled against Trump's bid to block his aides from speaking to the grand jury on the grounds of executive privilege, people familiar with the matter told NBC. Trump is expected to appeal the ruling, which was filed in secret because it involves grand jury matters, according to NBC. Trump is also facing a legal threat in Georgia, where a Fulton County grand jury is investigating efforts by him and his allies to interfere in the 2020 election in that state.

☆ Trump's ex-chief of staff Mark Meadows and other top aides must provide more testimony for January 6 investigation, judge rules
▼ + stars: | 2023-03-24 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +3 min

Mark Meadows and other Trump aides were ordered to offer more testimony to a grand jury investigating January 6. A federal judge dismissed Trump's claims of executive privilege in a sealed order last week. Some of them had appeared before the grand jury but declined to answer certain questions about their interactions with Trump, ABC reported. His legal team is expected to appeal Howell's order compelling his aides' testimony, according to ABC. Corcoran was previously ordered to provide more testimony for the investigation after a federal judge rejected his claims of attorney-client privilege.

☆ Federal Judge Concludes Trump Likely Misled Lawyers on Documents
▼ + stars: | 2023-03-22 | by ( C. Ryan Barber | Sadie Gurman | ) www.wsj.com time to read: 1 min

WASHINGTON—A federal judge found that special counsel Jack Smith ’s team presented convincing evidence that President Donald Trump misled his own lawyers about his retention of classified documents after leaving the White House, according to people familiar with the decision. Judge Beryl Howell made that finding Friday in a sealed decision siding with federal prosecutors in their bid to bypass attorney-client privilege claims raised by one of Mr. Trump’s lawyers, Evan Corcoran , and compel him to provide more testimony. Judge Howell wrote that prosecutors had made a “prima facie showing that the former president had committed criminal violations,” the people said.

☆ For These Stranded Real-Estate Pros, a Backhoe, AAA and a Mom Van Saved the Day
▼ + stars: | 2023-03-22 | by ( Robyn A. Friedman | ) www.wsj.com time to read: +1 min

It was about 1,100 feet off a dirt road. We took pine branches and put them under the tires to give them some grip, but it didn’t work. I had to call an excavator because we were so far off the road that a regular tow truck couldn’t reach us. The excavator actually drove a backhoe from his farm down the dirt road to find us. And they didn’t buy the property, so all of that trouble didn’t result in a sale.

☆ Trump appears to lose appeal of key ruling in criminal probe of classified records stored at Mar-a-Lago
▼ + stars: | 2023-03-22 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

The legal team of former US President Donald Trump, led by M. Evan Corcoran, arrives at the Brooklyn Federal Courthouse. Former President Donald Trump on Wednesday appears to have lost an appeal of a bombshell ruling in the criminal investigation of classified records he stored at Florida residence Mar-a-Lago after leaving the White House, NBC News confirmed Wednesday. The decision will likely force one of his lawyers to testify to a federal grand jury in the criminal probe. Normally, attorneys cannot be compelled to testify against their clients due to attorney-client privilege, which protects their communications. A docket entry in the sealed appeals court case believed to be Trump's indicates that the appeals court rejected Trump's bid, and ordered the parties to comply with Howell's ruling.

☆ Judge Rejects Attorney-Client Privilege Claim by Trump Attorney in Mar-a-Lago Inquiry
▼ + stars: | 2023-03-17 | by ( C. Ryan Barber | ) www.wsj.com time to read: 1 min

Special counsel Jack Smith’s team has prevailed in a push to extract more grand jury testimony from a lawyer for Donald Trump, according to people familiar with a sealed court decision, which could help advance the investigation into the handling of classified documents found at the former president’s South Florida home. In that decision Friday, Chief Judge Beryl Howell rejected attorney-client privilege claims that the lawyer, Evan Corcoran, raised on behalf of Mr. Trump during a January appearance before a federal grand jury in Washington. The ruling came a week after a closed-door hearing in which Mr. Smith’s team urged Judge Howell to invoke the so-called crime-fraud exception to bypass the privilege claims and compel Mr. Corcoran to provide more testimony.

☆ Trump attorney ordered to testify in documents case, reports say
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 17 (Reuters) - A federal judge on Friday ordered an attorney for Donald Trump to give additional testimony before a grand jury investigating the former U.S. president’s handling of classified documents, according to media reports. U.S. District Judge Beryl Howell ordered attorney Evan Corcoran to testify after he invoked attorney-client privilege during a prior grand jury appearance in January and refused to answer investigators’ questions about his communications with Trump, according to CNN, the Washington Post and other media outlets. Trump, who is seeking the Republican nomination for president in 2024, has accused the Justice Department of conducting a "witch hunt" against him. Special Counsel Jack Smith is investigating Trump for the unlawful retention of national defense information at his Florida estate and he is also investigating whether Trump tried to obstruct the criminal probe. In her ruling, Howell agreed with prosecutors that there were grounds for a "crime-fraud exception" to attorney-client privilege, according to the reports.

☆ A judge ordered Trump's lawyer to give more testimony in Mar-a-Lago classified documents probe: report
▼ + stars: | 2023-03-17 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +2 min

A federal judge ordered Trump's lawyer to provide more grand jury testimony in the Mar-a-Lago case. The DOJ is investigating whether Trump potentially mishandled classified documents. The judge rejected Trump's lawyers claims of attorney-client privilege. The ruling compels Corcoran to provide additional testimony before the grand jury investigating the classified documents case — one of at least four major ongoing criminal inquiries involving Trump. Georgia's Fulton County is also investigating Trump and his allies' efforts to overturn the state's 2020 elections results.

The chief judge has sole discretion over sealed federal grand jury proceedings. As chief judge, Boasberg is poised to rule on certain legal arguments raised in the grand jury probes, including efforts to restrict witnesses from testifying. Grand jury proceedings are kept from public view. Another special counsel, Robert Hur, was named by Garland in January to look into classified records found at Biden's home in Delaware and former office in Washington. During her tenure as chief judge, Howell regularly heard legal arguments in special counsel investigations.

[1/3] A security guard walks in the ATM lobby of a Signature Bank branch in New York City, U.S., March 13, 2023. The proposed class action against Signature and its former chief executive officer Joseph DePaolo, chief financial officer Stephen Wyremski and chief operating officer Eric Howell was filed in the federal court in Brooklyn. Silicon Valley Bank is the largest. On Sunday, U.S. regulators decided to make Signature and Silicon Valley Bank depositors whole regardless of how much they held in their accounts. The case is Schaeffer v Signature Bank et al, U.S. District Court, Eastern District of New York, No.

March 12 (Reuters) - State regulators closed New York-based Signature Bank (SBNY.O) on Sunday, the third largest failure in U.S. banking history, two days after authorities shuttered Silicon Valley Bank (SIVB.O) in a collapse that stranded billions in deposits. All of the depositors of Signature Bank and Silicon Valley Bank will be made whole, and "no losses will be borne by the taxpayer," the U.S. Treasury Department and other bank regulators said in a joint statement. Signature's failure followed Silicon Valley Bank's Friday shutdown, the second largest in U.S. history behind Washington Mutual, which collapsed during the 2008 financial crisis. Signature Bank's depositors and borrowers will automatically become customers of the bridge bank, the FDIC said. Signature Bank cut ties with Trump in 2021 following the deadly Jan. 6 riots on Capitol Hill, and urged Trump to resign.

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