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FDIC Says Silicon Valley Customers Can Fully Access Funds at Bridge Bank

Tris Bell

Summary: The Federal Deposit Insurance Corp (FDIC) said in a statement Monday customers will be able to access their Silicon Valley Bank deposits at a bridge bank. Banking regulators approved the transfer on Sunday. The FDIC appointed former Fannie Mae CEO Tim Mayopoulos as CEO of the bridge bank. Author: Katie Lin

The Federal Deposit Insurance Corp (FDIC) said in a statement Monday customers will be able to access their Silicon Valley Bank deposits at a bridge bank.

Banking regulators approved the transfer on Sunday.

The FDIC appointed former Fannie Mae CEO Tim Mayopoulos as CEO of the bridge bank.

Author: Katie Lin

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