“Examiners should have taken more aggressive and decisive supervisory action to escalate several issues in light of the bank’s unchecked growth; its volatile funding and deposit concentrations; and its significant, pervasive, and persistent weaknesses in key control functions,” the report found.
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- Source: https://www.coindesk.com/policy/2023/10/02/fed-report-silvergate-bank-got-fatally-ensnared-in-crypto-while-examiners-shrugged/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
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