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DOJ and SEC Launch Investigations Into SVB Collapse

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
DOJ and SEC Launch Investigations Into SVB Collapse

DOJ and SEC Launch Investigations Into SVB Collapse

DOJ and SEC Launch Investigations , Into SVB Collapse.

Last week, the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB) and made the FDIC its receiver.

Last week, the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB) and made the FDIC its receiver.

NBC News reports that on March 14, the U.S. Justice Department opened an investigation into the bank's demise.

According to two sources with knowledge of the matter, part of the DOJ's probe will seek to determine whether bank executives unloaded any stock ahead of the collapse.

The Securities and Exchange Commission (SEC) has launched a separate investigation.

.

According to the FDIC, SVB's collapse marked the second-biggest on record after Washington Mutual.

According to the FDIC, SVB's collapse marked the second-biggest on record after Washington Mutual.

NBC News reports that on March 12, the FDIC, Federal Reserve and Treasury Department said SVB deposits would be backed in excess of the federally-insured cap of $250,000.

The fall of SVB prompted Signature Bank customers to withdraw over $10 billion in deposits out of fear on March 10, ultimately leading to the bank's collapse as well.

The fall of SVB prompted Signature Bank customers to withdraw over $10 billion in deposits out of fear on March 10, ultimately leading to the bank's collapse as well.

President Biden attempted to reassure the public that America's banking system is safe on March 13.

Thanks to the quick action of my administration over the past few days, Americans can have confidence that the banking system is safe.

, President Joe Biden, via statement.

Your deposits will be there when you need them, President Joe Biden, via statement


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Apple May Be Ready , to Support RCS by Fall. On March 29, Google briefly highlighted a part of the Google Messages page stating that Apple is preparing to roll out Rich Communication Services (RCS) support this fall. On March 29, Google briefly highlighted a part of the Google Messages page stating that Apple is preparing to roll out Rich Communication Services (RCS) support this fall. Some of the page's sections read, "coming soon on iOS" and "better messaging for all," TechCrunch reports. Apple has announced it will be adopting RCS in the fall of 2024. Once that happens, it will mean a better messaging experience for everyone, Via Google page description. Apple confirmed that it was developing RCS support last November. While RCS will not eliminate the "green bubble-blue bubble" differentiation between Android and iPhone users. it will allow Android users to send iPhone users hi-res media within their native messaging app. New RCS features, such as Photomoji, improved voice note audio quality and more, were announced by Google last year. According to the tech giant, 1 billion people use RCS each month. The news of Apple's upcoming RCS support comes as the company is being sued by the U.S. Department of Justice over alleged monopolistic practices, TechCrunch reports. The lawsuit mentions "green bubbles" as a user security issue

Credit: Wibbitz Top Stories    Duration: 01:31Published
China-Based Hackers Hit With Sanctions and Indictments Over Cyber Attacks [Video]

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China-Based Hackers , Hit With Sanctions and Indictments , Over Cyber Attacks. ABC reports that the United States has sanctioned hackers based in China over alleged attacks on critical U.S. infrastructure. According to the U.S. Treasury Department, a state-sponsored front company has provided cover for multiple cyber attacks on U.S. infrastructure. . Sanctions by the U.S. and the United Kingdom have targeted representatives of Wuhan Xiaoruizhi Science and Technology Company Ltd. (Wuhan XRZ). The U.S. Treasury Department alleges that Wuhan XRZ acts as a China-based Ministry of State Security (MSS) front company. . ABC reports that the allegations include malicious cyber operations that include the 2020 spear phishing operation against the U.S. Naval Academy. . ABC reports that the allegations include malicious cyber operations that include the 2020 spear phishing operation against the U.S. Naval Academy. . On March 25, the U.S. Justice Department indicted seven individuals on charges stemming from their alleged involvement with these malicious operations. On March 25, the U.S. Justice Department indicted seven individuals on charges stemming from their alleged involvement with these malicious operations. The Justice Department will not tolerate efforts by the Chinese government to intimidate Americans who serve the public, silence the dissidents who are protected by American laws, or steal from American businesses, Merrick Garland, Attorney General statement, via ABC. This case serves as a reminder of the ends to which the Chinese government is willing to go to target and intimidate its critics, including launching malicious cyber operations aimed at threatening the national security of the United States and our allies, Merrick Garland, Attorney General statement, via ABC. ABC reports that court documents show that the hackers targeted politicians and other prominent officials with "tracking links.". The Conspirators used this method to enable more direct and sophisticated targeting of recipients' home routers and other electronic devices, including those of high-ranking U.S. government officials and politicians and election campaign staff from both major U.S. political parties, Court documents, via ABC. The Conspirators used this method to enable more direct and sophisticated targeting of recipients' home routers and other electronic devices, including those of high-ranking U.S. government officials and politicians and election campaign staff from both major U.S. political parties, Court documents, via ABC

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Credit: euronews (in English)    Duration: 00:35Published

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Credit: Oneindia    Duration: 04:06Published

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Credit: Wibbitz Top Stories    Duration: 01:31Published
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Credit: Wibbitz Top Stories    Duration: 01:30Published
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Credit: Wibbitz Top Stories    Duration: 01:31Published
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Federal Reserve Federal Reserve Central banking system of the US

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Credit: Wibbitz Top Stories    Duration: 01:30Published
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Credit: Wibbitz Top Stories    Duration: 01:31Published
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Credit: Wibbitz Top Stories    Duration: 01:30Published
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Credit: Oneindia    Duration: 07:19Published

Americans Americans Citizens and nationals of the United States

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Credit: Wibbitz Top Stories    Duration: 01:31Published
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Credit: Wibbitz Top Stories    Duration: 01:31Published
Biden Looks to Energize Young Voters With Earth Day Solar Energy Grants [Video]

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Biden Looks to Energize , Young Voters With Earth Day , Solar Energy Grants. Biden Looks to Energize , Young Voters With Earth Day , Solar Energy Grants. NBC reports that President Joe Biden will mark Earth Day with the announcement of $7 billion in federal grants for residential solar projects. NBC reports that President Joe Biden will mark Earth Day with the announcement of $7 billion in federal grants for residential solar projects. The grants will bring solar energy to over 900,000 households in both low- and middle-income communities. . According to senior administration officials, the projects receiving additional funding will reduce emissions by 30 million metric tons and save $350 million every year. . According to senior administration officials, the projects receiving additional funding will reduce emissions by 30 million metric tons and save $350 million every year. . NBC reports that solar power has gained traction as a clean energy source that could help reduce U.S. reliance on fossil fuels. However, the high cost of initial installation makes solar energy inaccessible for many households in the U.S. However, the high cost of initial installation makes solar energy inaccessible for many households in the U.S. 49 of the new grants will be awarded at the state level, six more will serve Native American tribes and another five are multi-state awards. The grants will be used for renewable investments that include rooftop solar and community solar gardens. . The grants will be used for renewable investments that include rooftop solar and community solar gardens. . Officials say that the latest environmental announcements are part of an effort to energize young voters ahead of his upcoming reelection campaign. Biden also reportedly plans to expand the American Climate Corps green jobs training program, which was created last year by executive action. . Biden also reportedly plans to expand the American Climate Corps green jobs training program, which was created last year by executive action. . The corps, which will offer nearly 2,000 positions across 36 states, is meant to offer young Americans the chance to help enact the Biden administration's climate agenda. . The corps, which will offer nearly 2,000 positions across 36 states, is meant to offer young Americans the chance to help enact the Biden administration's climate agenda.

Credit: Wibbitz Top Stories    Duration: 01:31Published
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March Retail Sales Exceeded Expectations

March Retail Sales , Exceeded Expectations. New Commerce Department data surprised some analysts on April 15, 'The Hill' reports. . The agency's latest estimates indicate that March retail sales increased by 0.7%. They were only expected to rise 0.3% last month. While sales exceeded estimates for March, the jump was still below the 0.9% increase in February. Compared to the same time last year, total sales for the first three months of 2024 were up 2.1%. On April 10, the Labor Department released data showing that inflation rose last month. . The consumer price index (CPI) increased 0.4% in March and 3.5% annually. In February, consumer prices increased 3.2% year-over-year. . Still, the newest Commerce Department data suggests that Americans continue to spend despite prolonged inflation, 'The Hill' reports.

Credit: Wibbitz Top Stories    Duration: 01:30Published