Silicon Valley Bank’s former parent company files for bankruptcy

Former parent of Silicon Valley Bank files for bankruptcy – CBS News

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The former parent company of Silicon Valley Bank is filing for bankruptcy. SVB Financial was spun off from the bank following its acquisition by the FDIC. CBS MoneyWatch reporter Christopher Brooks explains the implications of the Chapter 11 filing.

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Written by Natalia Chi

Chicago Popular; Chicago breaking news, weather and live video. Covering local politics, health, traffic and sports for Chicago, the suburbs and northwest Indiana.

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