Economy Apr 16 Bank of America ordered to pay $540 million in long-running lawsuit from the FDIC By Associated Press
Politics Jun 13 Biden to nominate Christy Goldsmith Romero to replace FDIC chair who quit amid workplace abuse allegations President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Gruenberg as head of the Federal Deposit Insurance Corporation. By Ken Sweet, Associated Press
Politics May 20 FDIC chairman to step down following report on agency’s ‘toxic culture’ The White House said Monday that President Joe Biden will name a replacement for Martin Gruenberg "soon" and called for the Senate to quickly confirm the person's nomination. By Ken Sweet, Associated Press
Politics May 16 Watch 6:46 FDIC chair faces calls to resign after audit details toxic work culture at agency More than 100 million American households have money in bank accounts protected by the FDIC. The agency’s chairman, Martin Gruenberg, is facing calls to resign after a recent audit and major news investigation found serious problems with the FDIC’s workplace… By Laura Barrón-López
Economy May 18 Your financial accounts are safe, experts say. Here’s what protects them With recent bank failures, rising interest rates and the looming debt ceiling collision that threatens to push the U.S. into a potential recession, it’s natural to feel some financial anxiety and wonder if your money is secure. By Hannah Grabenstein
May 18 WATCH: Senate committee holds hearing on oversight of banking with regulators By Associated Press The Senate Banking Committee held a hearing on oversight of the finance industry with federal regulators on Thursday. Continue reading
Apr 28 Watch 6:08 Fed blames mismanagement and oversight failures for Silicon Valley Bank collapse By William Brangham, Dorothy Hastings The Federal Reserve issued a stinging report on the historic collapse of Silicon Valley Bank. The analysis notes that while the collapse was a “textbook case of mismanagement” by bank officers, the Fed said its regulators missed clear danger signs… Continue watching
Mar 20 FDIC extends bidding process for Silicon Valley Bank successor By Michelle Chapman, Associated Press The FDIC said Monday that there’s been “substantial interest” from multiple parties for Silicon Valley Bridge Bank. Continue reading
Mar 17 Will Americans end up paying for bank failures? By Christopher Rugaber, Associated Press 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?… Continue reading
Mar 17 Biden calls for tougher penalties for executives of failed banks By Zeke Miller, Associated Press 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. Continue reading