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The Latest Breaking News from FDIC

Reverse ATMs take bills, dispense cards as stores go cashless

Sports stadiums and amusement parks are all shunning cash — but often required to take it

Axios

Bridgeport bank failure proves costly for FDIC, a CPD officer faces dismissal and more in your Chicago news roundup

Today’s update is about an eight-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

Michael Hiltzik: Love it or hate it, the Silicon Valley Bank bailout won't cost taxpayers a cent

What's the dirtiest word in financial policy?

Los Angeles Times

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

Bridgeport bank failure cost millions more than feds have said: Where did all the money go?

Authorities say they’ve recovered $59 million toward the money lost when they shut down Washington Federal Bank for Savings, but they’re still out another $81 million, records show.

Chicago Sun-Times

You’re probably not getting the best APY on your savings account, here’s how to grow your savings

A new account might be the fastest way to increase your savings these days, but experts say it’s not the only way.

Fortune

Top Earning 3-Year CDs July 2023

Here are the top-yielding 3-year CDs — with some accounts paying up to 5.13%.

Kiplinger

Money market funds lure investors with returns

Depositors have started to move their money from bank accounts to money market funds, in part because of ongoing concerns about the banking crisis and also offers of higher returns, according to a recent report from financial services company Morningstar.

Bangkok Post

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5 policies that could make future bank failures less likely or severe

The abrupt failures of Silicon Valley Bank and Signature Bank and subsequent concerns about the stability of other banks have reignited a fierce debate among lawmakers, the financial industry, the Biden administration and former government officials about an array of banking reforms and regulatory changes.

The Conversation

How a pod of SVB bankers are starting over at a new firm after their world fell apart

Former SVB bankers Jake Moseley and Matt Trotter talk about their decision to join Stifel and the gaping hole left by SVB in venture lending.

Fortune

Primis Bank Review 2023

Primis Bank offers low-cost account options and various customer service options. Consumers looking for a bigger bank with high APYs across the board may not be sold.

Fortune

Today’s top CD rates, April 13

Here’s our list of the highest CD rates at every term length from close to 80 different banks and credit unions, ranging from 3 months to 10 years.

Fortune

Safe investments for a tumultuous market

Investors are piling into cash. Here are some strategies for getting the most out of your money.

Fortune

It cost $22 billion to rescue two failed banks. Now the question is who will pay

Regulators need to decide how to recover the cost of rescuing Silicon Valley Bank and Signature Bank — and community banks across the country are warning they should not be on the hook.

WEKU

Money Market Account vs High-Yield Savings Account Which Account Will Make Your Money Work Hardest?

Debating on where to save your money? Two options include a high-yield savings account or a money market account. Discover which option offers you the right fit.

Kiplinger

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news in one place.

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Fortune

Warren Buffett slams failed banks for doing ‘dumb things’ but says ‘depositors will be safe no matter what’

Buffett blamed failed-bank executives for causing instability in the financial sector Wednesday, but said with regulators’ backing, “banks can go bust” and “depositors aren’t going to be hurt.”

Fortune

The strange case of SVB Capital

Hundreds of pages of bankruptcy filings reviewed by Term Sheet outline the bizarre limbo the VC unit finds itself in.

Kiplinger

Best No-Fee High-Yield Savings Rates: May 2026

If you want to stay ahead of rising everyday costs, these accounts can help you achieve that.

Kiplinger

Best No-Penalty CD Rates: Lock in Rates at 4%

No-penalty CDs provide a high return while giving you the flexibility to access your cash whenever needed. Check out Kiplinger's top choices.

Get all your
news in one place.

100's of premium titles.
One news app.

Fortune

The banking crisis has a silver lining. Businesses might actually start protecting their cash

Humans are naturally quite bad at projecting risk. We rarely think about what might happen if there is a sudden ban run and our deposits are in peril.

Zenger

Mercury Takes Aim At Replacing Silicon Valley Bank As Tech Hubs Go-To Bank And Lender

Silicon Valley Bank’s collapse has paved the way for other banking institutions to step up and meet demand for venture debt

Kiplinger

After the Recent Banking Crisis, What Can You Bank On?

Now would be a good time to take stock of how your nest egg may be exposed in a banking crisis. Here are five things you should know about.

Los Angeles Times

Michael Hiltzik: How Trump's frenzy of deregulation killed Silicon Valley Bank

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.

Fortune

FDIC chair Gruenberg gets heat from lawmakers over bargain basement SVB deal

Shares in regional lender First Citizens skyrocketed this week after scooping up SVB on the cheap, prompting questions from Congress whether the FDIC negotiated a poor deal that will now cost banks $20 billion.

Fortune

Community bank CEO: ‘Congress must raise the bank deposit insurance limit to $10 million’

Exception-based coverage signals to depositors that they might get some extra protection at a systemically important bank–and compounds risk.

Axios

In the wake of SVB collapse, the White House is calling for new rules for regional banks

The administration wants to reverse some Trump-era policies

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