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March 20, 2023

Collapsed Signature Bank Acquired as Sen. Warren Calls for Bank Crisis Probe, Firing of Fed Chair
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In the U.S., New York Community Bancorp reached a deal to take over the
failed Signature Bank and assume all its deposits, a week after it was
seized by the Federal Deposit Insurance Corporation. Signature's 40
branches will now operate as Flagstar Banks, which New York Community
Bancorp acquired in December.

Senator Elizabeth Warren called Sunday for an independent investigation
into the collapse of Signature and Silicon Valley Bank. Warren also
called for Biden to fire Fed Chair Jerome Powell, whom she blames for
helping undo financial regulations and for continuing to raise interest
rates despite forecasts it could cost 2 million people their jobs.


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