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Collapsed Signature Bank Acquired as Sen. Warren Calls for Bank Crisis Probe, Firing of Fed Chair

HeadlineMar 20, 2023

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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