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The Latest Breaking News from FDIC

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

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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

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

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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.

Fortune

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

If you want to achieve short-term savings goals, these are the best options to consider. Best of all, they're fee-free.

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.

Kiplinger

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.

Fortune

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

Zenger

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.

Kiplinger

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.

Los Angeles Times

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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

Zenger

Biden Eyes New Regulations As Congress Dives Into Silicon Valley, Signature Bank Failures

President Joe Biden is expected to tighten regulations on banks, prompted by the biggest banking collapse since the 2008 crisis

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news in one place.

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Tribune News Service

Bipartisan group of senators offer clawback bill for bank failures

WASHINGTON — A bipartisan group of senators released draft legislation Wednesday that would claw back executive pay in the five years leading up to a bank’s failure, following President Joe Biden’s call on Congress to take action.

Roll Call

Bipartisan group of senators offer clawback bill for bank failures - Roll Call

Four senators from both parties released a draft bill to claw back executive compensation in the five years leading up to a bank failure.

Tribune News Service

Karl W. Smith: Insurance for all bank deposits is a manageable cost

A group of conservative Republicans representatives known as the House Freedom Caucus came out last week against any proposal that would lift the cap on deposit insurance, currently set at $250,000. Members of U.S. Congress on both sides of the aisle are understandably cautious about taking such a dramatic step…

The Conversation

SVB's newfangled failure fits a century-old pattern of bank runs, with a social media twist

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

Fortune

Key takeaways from the Senate’s bank failure hearing

Amid all the finger-pointing, Senators and speakers said more monitoring was needed in the banking sector.

Kiplinger

How to Protect Your Cash and Investments in a Banking Crisis

A focus on FDIC insurance and Treasury-only money market or bond fund options can help safeguard investments when a banking crisis threatens.

Chicago Sun-Times

Fed official says banking rules are under review in the wake of SVB failure

Michael Barr, the nation’s top banking regulator, said Silicon Valley Bank was warned in the fall of 2021 that its interest rate model was not ‘aligned with reality.’

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