image credit: Unsplash

Payments execs detail SVB impact

March 16, 2023

The fallout from regulators’ takeover of Silicon Valley Bank and Signature Bank has rippled through to payments companies, forcing them to minimize disruption to their businesses.

Marqeta, Modern Treasury and Bill Holdings were among the companies impacted by the bank industry crisis tipped off when SVB succumbed to federal regulators’ control on Friday. On Sunday, the Biden administration announced that depositors would be protected. The State of New York closed Signature Bank on Sunday.

Read More on Payments Dive