Mar 24 Shares of Germany’s largest lender Deutsche Bank fall amid global jitters over banks By David McHugh, Associated Press Shares in Deutsche Bank, Germany's largest lender, have fallen sharply and dragged down major European banks as fears about the global financial system send fresh shudders through the market. Continue reading
Mar 22 Americans’ faith in banks hit low after failures, says AP-NORC poll By Paul Wiseman, Hannah Fingerhut, Associated Press Only 10 percent of U.S. adults say they have significant confidence in the nation's banks and financial institutions, a new poll finds. That is down from the 22 percent who said they had high confidence in banks in 2020. Continue reading
Mar 22 WATCH: Federal Reserve Chair Powell gives update after raising interest rate amid banking turmoil By Christopher Rugaber, Associated Press The Federal Reserve is grappling with a hazier economic picture, clouded by turmoil in the banking industry and still-high inflation, just as it meets to decide whether to keep raising interest rates or declare a pause. Continue reading
Mar 21 Hundreds of lobbyists pushed government to water down banking regulations By Brian Slodysko, Ken Sweet, Associated Press An unlikely coalition voted in 2018 to roll back portions of a far-reaching 2010 law intended to prevent a future financial crisis. But those changes are now being blamed for contributing to the recent collapse of Silicon Valley Bank and… Continue reading
Mar 21 WATCH: Treasury Secretary Janet Yellen delivers remarks promising further support for banks By Fatima Hussein, Associated Press Treasury Secretary Yellen is trying to project calm after regional bank failures, saying the U.S. banking system is “sound” but additional rescue arrangements “could be warranted” if any new failures at smaller institutions pose a risk to financial stability. Continue reading
Mar 20 Watch 6:06 Can banking takeovers and rescues stabilize the markets? By Geoff Bennett, Dorothy Hastings Ten days after the collapse of Silicon Valley Bank and emergency measures to stabilize the system, key parts of the banking industry are still reeling and anxious. UBS agreed to buy out its rival Credit Suisse for a fraction of… 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 Watch 5:07 News Wrap: Biden calls for tougher penalties for executives of failed banks In our news wrap Friday, stocks dropped again amid nagging fears in the banking industry, President Biden asked Congress to authorize tougher penalties for executives of failed banks, the International Criminal Court targeted Russian President Putin with an arrest warrant… Continue watching
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