General World News

Former Fannie Mae chief named as CEO of Silicon Valley Bank N.A.

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A., an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB).

While the FDIC — an independent government agency that insures bank deposits and overseas financial institutions — declined to comment on Mayopoulos’ role, his career has been focused on financial and legal expertise. 

Mayopoulos has been a member of the FDIC systemic resolution advisory committee for more than two years and details ⇒

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