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Senate report: KPMG ignored red flags before 2023 bank failures

Summary by American Banker

A report from Democratic staff on the Senate Permanent Subcommittee on Investigations said accounting firm KPMG gave Silicon Valley Bank, Signature Bank and First Republic clean audits even though they knew of internal warnings, fraud allegations and apparent risks of failure.

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American Banker

Senate report: KPMG ignored red flags before 2023 bank failures

A report from Democratic staff on the Senate Permanent Subcommittee on Investigations said accounting firm KPMG gave Silicon Valley Bank, Signature Bank and First Republic clean audits even though they knew of internal warnings, fraud allegations and apparent risks of failure.

9 hours ago

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American Banker broke the news in 9 hours ago on Wednesday, September 17, 2025.

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