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The Latest Breaking News from FDIC

First Citizens Could Be Suitor for Silicon Valley Bank

Bids for Silicon Valley Bank, which was closed by the FDIC on March 10, are being received for the collapsed California bank.

The Street

Regional Banks Want FDIC to Guarantee Deposits for Two Years

A group of mid-size banks are concerned about bank runs after three bank failures occurred in March.

The Street

Trusting Fintech: Four Critical Moves to Protect Yourself

A few relatively easy steps can help you safeguard your money when using bank and budgeting apps and other financial technology.

Kiplinger

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Midsize banks want unlimited FDIC insurance for 2 years

A coalition of midsize U.S. banks is reportedly calling on the government to insure all deposits for the next two years.

Axios

Midsize US banks ask FDIC to insure deposits for two years

A coalition of midsize U.S. banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.

Tribune News Service

Bank of America Could Acquire Signature Bank, Ackman Says

Signature Bank was closed by regulators on March 12, the third bank to fail in March.

The Street

SVB Collapse: How Bank Failures Impact Your Money

Consumers are concerned if their money is safe after three banks have failed recently.

The Street

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Bank failures: Anger in Congress, but division on what to do

Congress is trying to figure out how best to respond to the abrupt failure of two U.S. banks

The Independent UK

Who will bid for SVB?

The FDIC is still trying to sell the bank, which is having trouble finding a buyer.

Fortune

SVB Collapse: Why Customers Are Keeping Money At Bank

Some customers are keeping their deposits at Silicon Valley Bank since the FDIC took control of the failed California bank.

The Street

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

Will the collapse of two US banks be followed by more? These banking veterans say no, for now

The sudden collapse of two U.S. banks last week left many people wondering about the safety of their own deposits, the health of the banking system and consequences down the road.

Tribune News Service

Biden wants Congress to boost penalties for executives when mid-sized banks fail

President Biden said the current law limits his administration's power to hold executives responsible when mid-sized banks fail due to mismanagement.

WEKU

Biden calls for tougher penalties for failed bank execs

President Joe Biden is calling 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

The Independent UK

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Axios

Biden to Congress: Ban execs of failed banks from the industry

Silicon Valley Bank and Signature Bank were both taken over by the FDIC in the last week.

The Street

After SVB Collapse, Depositors Weigh Banks Versus Credit Unions

Do credit unions offer more protection than banks?

The Street

First Republic Bank: Top Executives Sold $12 Million in Shares Months Ago

Before First Republic Bank received $30 billion of liquidity from 11 banks, executives had been shelling shares of the bank for several months.

The Street

Elon Musk Sends Cryptic Message About the Banking Crisis

The billionaire CEO of Tesla said that the current financial system is inefficient.

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The Street

SVB: Financier Bill Ackman Rips First Republic Bank Rescue Plan

Prominent hedge-fund manager Bill Ackman warns that the California bank's risks have now spread to big banks.

The Independent UK

Silicon Valley Bank’s parent company files for bankruptcy following sudden collapse

SVB Financial Group is filing for Chapter 11 bankruptcy protection

Roll Call

Biden seeks FDIC authority to claw back bankers' compensation - Roll Call

President Biden asked Congress for FDIC authority to claw back compensation from executives at failed banks, and bar them from the industry.

Fortune

SVB's disgraced ex-CEO is now holidaying in Hawaii

Becker was pictured sporting flip-flops and sunglasses in Hawaii as SVB's new CEO sought to reassure clients.

The Independent UK

Will Americans end up footing the bill for bank failures?

The government’s response to the failure of two large banks has already involved hundreds of billions of dollars

Fortune

SVB, First Republic CEOs involved in lobbying pre-banking crisis

In late January, First Republic Bank's CEO wrote to U.S. regulators saying his bank did not pose signficant risk to the U.S.'s financial stability.

Chicago Sun-Times

Big banks create $30 billion rescue package for troubled First Republic Bank

The uninsured deposits from 11 big banks into First Republic Bank are seen as a vote of confidence in the San Francisco-based firm with $176.4 billion in deposits.

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