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Banking Failures Must be a Wake-up Call for Regulatory Modernization, Says Cross River Bank CEO
The recent collapses of tech-friendly banks, including Silicon Valley Bank (SVB), Signature Bank, Silvergate Bank and First Republic Bank, have rightly caused a global conversation about the future of banking, and even more so, of financial services.
Here’s what the challenger bank chief had to say.
PYMNTS: The Federal Reserve’s autopsy on Silicon Valley Bank’s failure puts blame partially on its own doorstep, while separate regulator reports on Signature Bank’s collapse cite that lender’s “poor management.” What did you think of the regulator self-reviews?