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USA: The financial meltdown is beginning. (www.nbcnews.com)

submitted 2 months ago by shortwavesurfer@monero.town to c/personalfinance@lemmy.ml

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They are keeping this quiet, but this affects 2.9% of US bank customers.

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[–] slazer2au@lemmy.world 1 points 2 months ago (1 children)

o.O so it's not a bank that has failed, rather a banking middleman who provides Banking as a Service (BaaS)

Look, if silicon valley bank collapse didn't trigger a meltdown then this wont either.

[–] shortwavesurfer@monero.town -1 points 2 months ago

Silicon Valley Bank was bailed out entirely by the FDIC. And so there were no liquidity issues. 2.9% of real people have been able to not access their money this time. That did not occur last time.