- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Small and mid-sized banks can expect more regulatory scrutiny in the aftermath of the collapses of Silicon Valley Bank (SVB) and Signature Bank, according to legal experts.
The time to prepare is now.
“The pendulum will swing to a much more aggressive, hyper-focused review by exam teams at individual banks,” said Patrick Hanchey, partner at law firm Alston & Bird. Banks should “take the bull by the horns and be proactive,” he said.
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Banking regulators defended their supervisory actions and pledged to find answers as to what went wrong when discussing the factors leading to the failures of Silicon Valley Bank and Signature Bank before the Senate Banking Committee.
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