Latest Federal Deposit Insurance Corporation News
Bank failures and rescue test Yellen's decades of experience
WASHINGTON (AP) — Working against the clock to stop a developing banking crisis, Treasury Secretary Janet Yellen had until sunset on Sunday, March 12, to come up with a plan to calm the U.S. economy. She quickly turned to someone who had been through the fire before, and on a much...
First Republic Bank shares slide in volatile trading session
Shares of First Republic Bank fell another 47% Monday as investors remain uneasy about the bank's financial condition even after a group of the nation's largest financial institutions teamed up on a $30 billion rescue package. Trading in First Republic shares was halted numerous...
Is my money safe? What you need to know about bank failures
NEW YORK (AP) — Recent turmoil in the banking industry may have you worried about your money. The recent collapses of Silicon Valley Bank and Signature Bank, which catered mostly to the tech industry, were the second- and third-biggest bank failures in U.S. history. ...
New York Community Bank to buy failed Signature Bank
NEW YORK (AP) — New York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday. The 40 branches of Signature Bank will become Flagstar Bank, starting Monday. Flagstar is one of...
New York Community Bank buys assets of Signature Bank. FDIC estimates the bank's failure will cost insurance fund $2.5B
NEW YORK (AP) — New York Community Bank buys assets of Signature Bank. FDIC estimates the bank's failure will cost insurance fund $2.5B.
Bank failures: Anger in Congress, but division on what to do
WASHINGTON (AP) — Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks. A look at what lawmakers are saying and planning as the fallout continues from the collapse of Silicon Valley Bank and Signature Bank. ...
Will Americans end up footing the bill for bank failures?
WASHINGTON (AP) — The government's response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be? It could be months before the answers are fully...
Washington turns to Wall Street to help rescue dying bank
The scene was reminiscent of the last financial crisis, nearly 15 years ago: Faced with a blossoming emergency in the banking sector, worried regulators and policymakers in Washington turned to Wall Street for help. The anxiety this week centered on First Republic Bank in San...
Biden calls for tougher penalties for execs of failed banks
WASHINGTON (AP) — President Joe Biden on Friday called on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry. Biden wants the Federal Deposit...
Big banks create $30B rescue package for First Republic
NEW YORK (AP) — Eleven of the biggest U.S. banks Thursday announced a $30 billion rescue package for First Republic Bank in an effort to prevent it from becoming the third to fail in less than a week and head off a broader banking crisis. San Francisco-based First Republic serves...
