New York State In-depth

Hochul seeks to reassure after state takeover of NY bank

Gov. Kathy Hochul sought to reassure depositors Monday after Signature Bank, a New York State based financial institution with a big real estate lending business that recently also began serving the cryptocurrency industry, was closed by state authorities in the wake of the Silicon Valley Bank collapse. Janice Yu has an update from Lower Manhattan, and David Novarro and Sandra Bookman speak with an expert from John Jay College.

More details: https://abc7ny.com/ny-department-of-financial-services-signature-bank-closed/12948490/

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