First–Citizens Bank & Trust Company to Assume Silicon Valley Bank’s Deposits and Loans. First–Citizens Bank & Trust Company of North Carolina has agreed to purchase and assume all of Silicon Valley Bank’s deposits and loans from the FDIC’s bridge bank for the institution. The estimated cost to the Deposit Insurance Fund of is approximately $20 billion. Read the announcement.
March 27, 2023
FinCEN Releases Guidance for Businesses Reporting Their Beneficial Ownership Information. FinCEN has released guidance for covered business entities that must begin reporting information about their beneficial owners to FinCEN by January 1, 2025. Additional guidance will be published on FinCEN’s website in the coming months. View the announcement, FAQs, key filing dates, key questions, introductory video, and informational video.
March 24, 2023
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