The U.S. has a lot of banks. So many, in fact, that when one fails or runs into trouble, there can be some confusion with other lenders in different parts of the country that share a similar name.
That’s what happened last month when regulators seized New York’s $110 billion Signature Bank. In the days following the third-largest bank failure in U.S. history, executives with three other Signature Banks in Illinois, Ohio and Georgia urged customers not to mix them up with the lender that went down.
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