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Regulators shutter bank co-founded by Jewish donor Scott Shay
(JTA) — Following the failure of Silicon Valley Bank, federal regulators have shuttered Signature Bank, whose chairman, Scott Shay, is a major donor to Jewish causes.
The New York-based bank was closed on Sunday, two days after Silicon Valley Bank’s collapse, stoking panic in the markets and assurances from President Joe Biden on Monday that the banking system was safe.
Both Signature Bank and Silicon Valley Bank shut down because of depositor runs on their holdings. In Signature’s case, the run was triggered by concerns that the bank was one of just a handful that welcomed deposits in cryptocurrency, a market that crashed over the course of 2022.
Signature specialized in deposits from realtors and lawyers. It drew scrutiny from regulators in 2018 for its relationship with people in the circle of then-President Donald Trump, including his Jewish son-in-law and senior adviser, Jared Kushner.
Shay co-founded Signature Bank in 1999 with Joseph DePaolo and received the backing of one of Israel’s major banks, Bank Hapoalim. He has been a major funder of Jewish and pro-Israel causes, with a focus on education. According to an online biography. he has served on the boards of the UJA-Federation of New York, the Partnership for Excellence in Jewish Education and the Jewish Agency for Israel, and has also been a supporter of Birthright Israel. He is the president of Chai Mitzvah, which facilitates Jewish text study in groups.
In recent years, he has also been a donor to the New York Jewish Week, which is published by the Jewish Telegraphic Agency’s parent company, 70 Faces Media.
Shay has written two books on Jewish faith and identity: “Getting Our Groove Back: How to Energize American Jewry,” in 2006, and “In Good Faith: Questioning Religion and Atheism,” in 2018. He also wrote a book about anti-Zionism on college campuses, “Conspiracy U: A Case Study,” in 2021.
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Reese’s Pieces are now kosher pareve. Carnivores rejoice.
Antisemitism is on the rise. There’s a war raging in the Middle East. Passover is bearing down on us and gas prices are higher than ever.
And yet one morsel of good news came to Jewish faithful this month: Reese’s Pieces are now certified kosher pareve.
OU Kosher, the largest kosher certifier in the U.S., announced March 12 that the candy-coated peanut butter candies are no longer considered dairy despite packaging that labels them as such.
The implications for kosher consumers are as momentous as they are simple: Reese’s Pieces can be eaten immediately after meat — or for the deeply adventurous stomach, alongside it — without the hourslong period Orthodox Jews wait before eating dairy again.
The status change unfolded over the last year, when Reese’s parent corporation, the Hershey Company, informed OU Kosher that it was changing the candy’s ingredients.
“Reese’s decided on their own that there are a lot of consumers that don’t like the fact that it’s dairy,” explained Rabbi Moshe Elefant, OU Kosher’s chief operating officer. “Once they decided that they’re removing the dairy from Reese’s, it became a great possibility for them to be OU-Pareve.”
Reese’s Peanut Butter Cups and other Reese’s brands remain dairy, and Elefant said the Reese’s Pieces packaging, which currently shows OU-D, will be updated later in 2026. For those concerned about any old bags lying around, the OU said to check the ingredient list or allergen statement — if it doesn’t include milk, you’re good.

The change occurs amid wider changes in Hershey, Pennsylvania, where the company that makes Reese’s is headquartered. Some Reese’s products, like the Reese’s Mini Hearts and Peanut Butter Eggs, are no longer being made with milk chocolate due to the rising cost of cocoa, inciting controversy and drawing criticism from the Reese’s family. (Those candies remain certified dairy because they contain other milk ingredients, the OU said.)
Reese’s Pieces, on the other hand, never had chocolate in them to begin with.
Meanwhile, the OU Kosher hotline had fielded countless phone calls in recent weeks from home chefs about the change — some to verify the update, and some just to say thanks. The last time there was this much excitement over a status change, Elefant said, was when Oreos became kosher. (The cookies contained animal fat until the late 1990s.)
The Forward reached out to the Hershey Company for comment.
Elefant said there had been some debate within OU Kosher — which is a branch of the Orthodox Union, a leading umbrella organization for Orthodox Judaism — about whether to announce the candy’s pareve kosher status before the candy’s packaging itself could be updated. The organization’s advisory essentially instructs consumers to temporarily ignore the “D” on the packaging.
His team considered whether it would undermine the OU’s authority or confuse people to practice disregarding the certification printed on the product. But on some level, the decision was made for them.
“This is one of the situations where we had to think about the welfare of the Jewish people,” Elefant said. “And the welfare of the Jewish people was that they need Reese’s to be pareve.”
Kosher consumers typically wait between three and six hours after eating meat to have dairy; now one could get a hamburger on the way to the movies and then house fistfuls of the classic peanut-butter candy in the theater. Watching E.T.: The Extraterrestrial, perhaps. (I’m not saying this is healthy. Just that it’s kosher.)
But the impact will likely be received most gratefully on Shabbat, when meat-based meals force dessert makers to get creative. And while the bite-sized brown, orange and yellow rounds have always been kosher, Reese’s Pieces becoming pareve means Jews who observe cholov yisroel restrictions — only consuming milk that was milked by a Jewish person — can enjoy them now, too.
Time will tell whether the update truly transforms kosher baking — or turns Reese’s Pieces into a de facto pareve chocolate chip — but a new, easy-to-find garnish for any confection was sweet on the ears of OU Kosher’s Instagram followers.
“YESSSSS! This is a win for the non-dairy queens like me!!!” wrote one.
Said another, using a Jewish name for God: “This is how I know Hashem loves me.”
The post Reese’s Pieces are now kosher pareve. Carnivores rejoice. appeared first on The Forward.
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Berlin Court Jails 4 Men in Landmark Hamas Weapons Case, First German Ruling Treating Membership as Terror Offense
Palestinian Hamas terrorists stand guard on the day of the handover of hostages held in Gaza since the deadly Oct. 7, 2023, attack, as part of a ceasefire and a hostages-prisoners swap deal between Hamas and Israel, in Rafah in the southern Gaza Strip, Feb. 22, 2025. Photo: REUTERS/Hatem Khaled
Four men were sentenced to prison in Berlin on Wednesday for operating a covert Hamas weapons-stockpiling network across Europe in preparation for potential terrorist attacks — a landmark ruling marking the first time a German court convicted members of the Palestinian terrorist group under the country’s terrorism laws.
The Berlin State Protection Senate — a special national-security chamber within the Berlin Court of Appeal — convicted the defendants of stockpiling weapons for future attacks in Europe, including possible targets in Germany, sentencing them to four and a half to six years in prison for membership in a foreign terrorist organization and related charges.
The court determined the men, aged 36 to 58, had acted as foreign operatives for Hamas’s military wing, the al-Qassam Brigades, and had already helped establish several firearms caches across Europe.
According to official records, the defendants helped build weapons depots as part of “preparations to carry out attacks on Jewish and Israeli targets in European countries,” with possible targets including the Israeli Embassy in Berlin, the US Ramstein Air Base in southwestern Germany, and Berlin’s former Tempelhof airport.
German authorities also found the stockpiles were meant for attacks on Israeli, Jewish, or other targets across Europe over an extended period, with sites discovered in multiple countries including Poland, Bulgaria, and Denmark.
Although all four denied being members of Hamas, the main defendant admitted to visiting an arms cache in Bulgaria, claiming the trip was part of “private arms dealing.”
Arrested in December 2023, the four men — all Lebanese-born, including an Egyptian and a Dutch citizen — have been in custody since then, with three having lived primarily in Germany and the fourth in the Netherlands.
Hamas, long supported by the Iranian regime as well as Qatar and Turkey, is designated as a terrorist organization by the European Union and several other Western countries, including the United States.
However, the terrorist group has not been officially classified as such under German law, making Wednesday’s ruling especially important because it sets a legal precedent allowing membership in the group to be treated as a criminal offense.
“It’s a clear and important ruling by the Berlin Court of Appeal, even though we know that it does not in itself reduce the danger of terrorist attacks,” Stephan Weh, Berlin police union chief, said in a statement.
“As a Western metropolis, Berlin remains a focal point for radical Islamist networks, which today primarily recruit new members and supporters via social media,” he continued.
In recent months, German authorities have arrested several more suspects tied to alleged Hamas arms-procurement efforts, with the weapons said to be intended for attacks on Israeli or Jewish sites in Germany and across Europe.
In November, federal prosecutors uncovered and arrested a suspected Hamas terrorist cell with at least five members accused of plotting attacks on Israeli or Jewish targets.
Hamas has repeatedly denied any connection to these criminal networks, calling the allegations of its involvement “baseless.”
However, experts have warned that the group has expanded its terrorist operations beyond the Middle East, exploiting a well-established network of weapons caches, criminal alliances, and covert infrastructure quietly built across Europe over the years.
Last year, West Point’s Combating Terrorism Center released a study detailing how Hamas leaders in Lebanon have been directing operatives to establish “foreign operator’ cells across Europe, collaborating with organized crime networks to acquire weapons and target Jewish communities abroad.
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Iran Suggests Spain Can Have Safe Passage Through Strait of Hormuz
Spanish Prime Minister Pedro Sanchez speaks during a press conference after attending a special summit of European Union leaders to discuss transatlantic relations, in Brussels, Belgium, Jan. 23, 2026. Photo: REUTERS/Yves Herman
Iran indicated on Thursday that Spain would be allowed safe passage through the Strait of Hormuz if it requested access, praising the Spanish government for its hostile posture toward the US-Israeli military campaign.
“BREAKING NEWS: Iran considers Spain a country committed to international law, so it shows receptiveness to any request coming from Madrid. #StraitofHormuz,” the Iranian embassy posted on the social media platform X.
ÚLTIMA HORA: Irán considera a España un país comprometido con el derecho internacional, por lo que se muestra receptivo ante cualquier solicitud procedente de Madrid.#EstrechoDeOrmuz pic.twitter.com/WZjwCPB7CK
— Embajada de Irán en España (@IraninSpain) March 26, 2026
The post came after Iran’s Ministry of Foreign Affairs on Tuesday told the United Nations that “non-hostile vessels” could transit the strait, a critical waterway for shipping through which about one-fifth of the world’s oil and liquefied natural gas flows, if they coordinated with Iranian authorities.
Iran has effectively closed the strait amid its war with the US and Israel, causing global oil and gas prices to rise significantly. According to the Iranian regime, ships linked to the US and Israel, as well as “other participants in the aggression,” will not be granted safe passage.
However, amid ongoing indirect negotiations between Tehran and Washington over potentially halting the conflict, US President Donald Trump suggested on Thursday that Iran let 10 oil tankers transit the Strait of Hormuz as a goodwill gesture, elaborating on what he had described as a “present” from Iran. Meanwhile, the US military has reportedly been working on plans to reopen the waterway by force if needed.
Spain, which has a relatively small merchant fleet, is the first EU country to apparently be offered safe passage through the narrow strait off Iran’s coast.
On Thursday, Spanish Foreign Minister Jose Manuel Albares said he did not understand what Iran was referring to in its social media post on X, noting Madrid had consistently voted in favor of sanctions against Iran. Recently, Spain voted to designate the Islamic Revolutionary Guard Corps (IRGC), the Iranian military force primarily threatening ships seeking to transit the Strait of Horuz, as a terrorist organization.
“What we ask of Iran and all of those participating and promoting the war is de-escalation, diplomacy, and negotiation, and that Iran ceases its unjustified attacks against all the countries in the Middle East,” Albares said during a visit to Algeria.
Thursday was not the first time since Feb. 28, when the war began, that Iran praised Spain.
Earlier this month, Spain blocked US forces from using its bases for military operations against the Islamic regime, leaving Madrid as the only major EU country to have explicitly criticized the US-Israeli strikes on Iran.
In response to an online news report saying that the Spanish government “denies that the US is using its bases in Spain for the war against Iran,” the Iranian embassy in Spain reshared the headline and added, “Iran fully recognizes and respects this position, which is in accordance with international law.”
While Spain has strongly condemned the US-Israeli attack on Iranian regime targets, other European countries have denounced Iran’s counterstrikes on civilian sites across the Middle East.
Trump has lambasted Spain for its stance, even threatening to cut off trade.
“I think they’re not cooperating at all. Spain. I think they’ve been very bad, very bad, not good at all. We may cut off trade with Spain,” Trump told reporters earlier this month, adding that Madrid has been “very bad to NATO” and does not want to “pay their fair share.”
Spain quickly condemned the strikes against Iran after they began, calling them “dangerous” and “outside of international law.”
Israel accused Spain of “standing with tyrants” for opposing the war.
Since the Palestinian terrorist group Hamas’s Oct. 7, 2023, massacre across southern Israel started the Gaza war, Spain has been one of Israel’s fiercest critics on the international stage.

ÚLTIMA HORA: Irán considera a España un país comprometido con el derecho internacional, por lo que se muestra receptivo ante cualquier solicitud procedente de Madrid.