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Following the collapse of Silicon Valley Bank, reviews of the company’s internal practices have revealed that loans to insiders tripled to $219 million before the bank failed. Bloomberg reports that last month, Silicon Valley Bank failed as a result of a $42 billion bank run from investors and depositors. The bank’s internal problems have come to light due to the collapse, and regulators are starting to look closely at the bank’s operations before its demise. A Wellesley, Mass., police officer glances at his watch as customers and bystanders form a line outside a Silicon Valley Bank branch location, Monday, March 13, 2023, while waiting for the branch to open, in Wellesley, Mass. (AP Photo/Steven Senne) The bank’s lending practices toward insiders, such as its own officers, directors, and principal shareholders, are one area that has received attention. According to government data, loans to insiders more than tripled from the third quarter of 2022 to $219 million in … [Read more...] about Report: Loans to Silicon Valley Bank Insiders Tripled to Record High as Collapse Loomed

EAGLE PASS, Texas — A Del Rio Sector Border Patrol agent reportedly shot at a suspected human smuggler after the suspect allegedly attempted to strike the agent with the vehicle. The incident took place along the Texas border with Mexico near Eagle Pass. A source operating under the umbrella of U.S. Customs and Border Protection told Breitbart Texas that a suspected human smuggler attempted to back his vehicle into a Del Rio Sector agent late Monday night. The smuggler then reportedly attempted to flee from the agent. The Border Patrol agent then shot at the suspect to stop the assault, according to the source. It is not clear how many shots were fired.  EMS personnel transported an unidentified injured person from the vehicle to an area hospital. The injuries are reportedly not related to the shooting. The driver was not the injured party. The shooting took place on the north side of the border town of Eagle Pass on Thompson Ranch Road. The driver is reportedly being charged … [Read more...] about Border Patrol Agent Shoots at Human Smuggler After Assault in Texas, Says Source

Europe’s banking sector is not in crisis despite the collapse of two major players on the continent, a sector official in France has said. Despite claims to the contrary, Philippe Brassac, the head of the French Banking Federation (FBF), has insisted that there is no banking crisis currently plaguing Europe. The statement comes amid floundering investor confidence in European banking, with the collapse of major player Credit Suisse as well as the UK branch of the Silicon Valley Bank prompting concerns that the whole sector could be facing contagion. According to a report by Le Figaro , Brassac has rejected such a pessimistic outlook, insisting that problems with the current banking system are limited to the United States, and the European businesses in the sector will remain isolated from any issues. “There is no banking crisis,” the senior banker insisted regarding Europe, insisting that while “there are banks which are in difficulty”, these businesses are ultimately … [Read more...] about There is no Banking Crisis in Europe, French Finance Boss Insists