PacWest Moves to Boost Liquidity

PacWest Moves to Boost Liquidity

Regional bank Pac West Bancorp has secured a $1.4 billion line of credit from an Atlas SP Partners finance facility as part of its effort to boost liquidity, after customers withdrew roughly 20% of their deposits in the first few months of 2023. According to a...
UBS to Buy Credit Suisse in Emergency Rescue

UBS to Buy Credit Suisse in Emergency Rescue

UBS reached an agreement to purchase embattled Credit Suisse on Sunday for a reported $3.2 billion. The agreement came after weekend negotiations orchestrated by the Swiss National Bank and Swiss regulators, which pushed for the emergency rescue as a way to shore up...
Study: Black Banks Need to Close Tech Gap

Study: Black Banks Need to Close Tech Gap

A new Urban Institute Study cites the need for black depository institutions to boost their technology infrastructure. According to the report, closing the tech gap is necessary to ensure that those black banks and credit unions can expand their service offerings to...