Federal Reserve Announces Termination of Enforcement Action Against Silvergate Bank and Its Holding Company

The Federal Reserve Board on Friday announced the termination of its enforcement action against California-based Silvergate Bank and its holding company, Silvergate Capital Corporation, according to an official announcement.

Beginning in May 2023, the Commission's enforcement action ensured that Silvergate Bank was liquidated and wound down in a manner that protected depositors. Since that time, Silvergate Bank has completed its liquidation and winding-up plan, has repaid all customer deposits, and is no longer operating as a bank.