https://dfpi.ca.gov/2023/03/08/dfpi-statement-silvergate-bank-to-begin-voluntary-liquidation/

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[press-releases]

DFPI Statement: Silvergate Bank to Begin Voluntary Liquidation

Mar 8, 2023

Download this press release (PDF)

SACRAMENTO - The California Department of Financial Protection and
Innovation announced today that Silvergate Bank, a state-chartered
bank under the supervision of the DFPI, has voluntarily begun the
process of liquidation. Silvergate Bank is based in La Jolla,
California.

"The Department of Financial Protection and Innovation is monitoring
the situation closely to facilitate the safe and expeditious
voluntary liquidation of Silvergate Bank," said DFPI Commissioner
Clothilde Hewlett. "The Department is evaluating compliance with all
financial laws, as well as safety and soundness obligations, and is
working closely with relevant Federal counterparts."

DFPI expects any person offering financial services that operates in
California will comply with state and federal laws. Consumers can
file a complaint with the DFPI online (dfpi.ca.gov/file-a-complaint)
or call toll-free at (866) 275-2677.

About DFPI

The Department of Financial Protection and Innovation protects
consumers, regulates financial services, and fosters responsible
innovation. DFPI protects consumers by establishing and enforcing
financial regulations that promote transparency and accountability.
We empower all Californians to access a fair and equitable financial
marketplace through education and preventing potential risks, fraud,
and abuse. Learn more at dfpi.ca.gov.

###

Press Release Contact

Contact: 

Elizabeth Smith
Elizabeth.Smith@dfpi.ca.gov

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Last updated: Mar 8, 2023 @ 1:32 pm

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