SVB Financial Files Lawsuit to Recover $1.93 Billion Seized by US FDIC
SVB Financial has filed a lawsuit against the US banking regulator in an attempt to recover $1.9 billion. The lawsuit alleges that the regulator wrongfully classified certain loans as high-risk, resulting in SVB Financial being required to hold additional capital against those loans. SVB Financial argues that the loans were not high-risk and seeks to have the regulator's decision overturned.