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The Latest Breaking News from The Federal Deposit Insurance Corporation

Hundreds in DOGE purge had jobs not paid by taxpayers - lowering the amount of savings America sees by cuts

The recent firings at the Food and Drug Administration and the Federal Deposit Insurance Corporation ‘do nothing to reduce the federal budget’

The Independent UK

Biden chooses CFTC's Romero to replace Gruenberg as FDIC head - Roll Call

President Joe Biden will nominate CFTC member Christy Goldsmith Romero to lead the Federal Deposit Insurance Corporation.

Roll Call

How safe are online banks from collapse?

Bank failures have put many consumers on edge about the safety of their deposits. But are certain financial institutions more likely to fail than others?

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

JPMorgan Chase to acquire First Republic Bank

The bank's been on shaky ground since the failure of Silicon Valley Bank.

Axios

Saving vs. Investing: Which Is Best?

Saving and investing are both key parts of a solid financial plan, so it's worth considering what is best for you.

Kiplinger

Banking sector sees boost as First Citizens acquires failed SVB

SVB’s purchase gives markets some respite amid growing concerns over financial health of global banking system.

Al Jazeera

Biden seeks FDIC authority to claw back bankers’ compensation

WASHINGTON — President Joe Biden on Friday urged Congress to pass legislation that would give the Federal Deposit Insurance Corporation authority to “claw back” executive pay at failed banks and to bar the executives from jobs in the banking industry.

Tribune News Service

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The FDIC was created exactly for this kind of crisis. Here's the history

When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.

WEKU

Will Silicon Valley Bank's collapse spark a US recession with ripple effects across the globe?

Based in California and with about $US200 billion in assets, Silicon Valley Bank (SVB) was the 16th-largest in America, making it the biggest bank failure since the global financial crisis of 2008. The implications for financial markets and the global economy are big.

ABC News

Collateral damage from Silicon Valley Bank's explosion

The tech ecosystem has been tossed into turmoil as , one of the nation’s largest banks for startups, collapsed Friday following a run on deposits. Now, with the bank’s assets frozen and under the control of the Federal Deposit Insurance Corporation, SVB’s customers, employees, and investors are grappling with a…

Fortune

Silicon Valley Bank biggest US lender to fail since 2008 financial crisis – a finance expert explains the impact

Silicon Valley Bank, which catered to the tech industry for three decades, collapsed on March 10, 2023, after the Santa Clara, California-based lender suffered from an old-fashioned bank run. State regulators seized the bank and made the Federal Deposit Insurance Corporation its receiver.

The Conversation

Here's what it looked like outside Silicon Valley Bank after it shutdown

The failure of one of the largest commercial banks in the U.S. left people frantically figuring out next steps Friday morning.

Fortune

Silicon Valley Bank seized by FDIC as depositors pull cash

The Federal Deposit Insurance Corporation is seizing the assets of Silicon Valley Bank, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis

People

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the Food and Drug Administration

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