'Massive influx of illegal aliens' is adversely affecting the economy: Monica Crowley
Monica Crowley, former assistant treasury secretary, discusses inflation and the labor market worsened by the border crisis under the Biden-Harris economy on 'The Bottom Line.'
St. Louis downtown trapped in 'doom loop,' marred by empty offices, break-ins and store closings: Report
A new report revealed that the once busy downtown area of St. Louis, Missouri is closing many stores, leaving buildings crumbling and vacant for potential squatters.
Regional bank hit with 3rd credit downgrade as crisis concerns linger
New York Community Bank was hit with its third credit downgrade in a week amid investors' concerns about its exposure to the struggling commercial real estate market.
Bank that purchased failed community bank close to credit downgrade
New York Community Bank's stock continued to slide Thursday after a downgrade threat from Moody's in the wake of a surprise earnings miss and as NYCB moves to bolster its balance sheet.
UBS agrees to $1.4 billion settlement with DOJ over 2008 financial crisis claims
Swiss bank UBS has agreed to pay more than $1.4 billion in a settlement with the U.S. Department of Justice over alleged misconduct leading up to the 2008 financial crisis.
SEC’s Gary Gensler says AI financial advice must benefit investors, not the model
SEC Chair Gary Gensler said Monday that the financial regulator is looking to ensure that the use of AI in financial advising focuses on clients' interests, rather than the model's.
Fed exploring ways to speed up bank oversight, strengthen stress tests
Federal Reserve Vice Chair for Supervision Michael Barr said Tuesday that the central bank is looking to be more agile in regulating banks before and during financial crises.
Banking crisis caused US bank deposits to fall even as insured deposits rose: FDIC
The FDIC's quarterly banking report found that total deposits in U.S. banks declined as uninsured deposits were withdrawn even as insured deposits rose amid the banking crisis.
First Citizens Bank cutting jobs at failed Silicon Valley Bank
First Citizens Bank is cutting jobs related to its takeover of Silicon Valley Bank, which became the largest bank failure since the financial crisis.
Regional bank shares rally on Western Alliance deposit growth
Regional banks saw their share prices jump Wednesday in the wake of the banking crisis as Western Alliance Bank announced strong growth in its deposit base.
FDIC wants big lenders to shoulder Silicon Valley, Signature bank busts
The FDIC announced a proposed special assessment on large banks that would recoup the $15.8 billion pulled from an insurance fund following the failures of Silicon Valley Bank and Signature Bank.
Financial regulators look at possible 'market manipulation' targeting regional banks
Federal and state financial regulators are looking into the possibility of market manipulation by short-sellers targeting regional banks, which have experienced significant volatility.
Senate to hold hearing on bank failures this week following First Republic collapse
The Senate Banking Committee announced that it will hold a hearing this week in the wake of the failure of First Republic Bank, which was acquired Monday by JPMorgan Chase.
Will First Republic be the last bank rescued amid banking crisis?
First Republic Bank's failure and fire sale to JPMorgan Chase has fueled speculation about whether more banks will need to be rescued or whether the worst is over for the sector.
First Republic, KPMG sued for concealing bank's risks
The lawsuit filed late Monday in San Francisco federal court accused First Republic and its auditor KPMG of misrepresenting the strength of the bank's balance sheet and liquidity.
First Republic shares slide after 40% dip in deposits tied to banking crisis
First Republic Bank released its first-quarter financial results, which revealed a 40% decline in deposits compared to the end of 2022 in the wake of the recent banking crisis.
State-owned Bank of North Dakota's unique structure garners attention in wake of banking crisis
The Bank of North Dakota's unique position as the only U.S. bank owned and operated by a state has drawn attention as a potential alternative structure amid the recent banking crisis.
First Citizens reportedly nearing deal to acquire Silicon Valley Bank
First Citizens Bank is reportedly nearing a deal to acquire the failed Silicon Valley Bank through an auction held by the Federal Deposit Insurance Corporation.
Feds may throw struggling First Republic Bank a lifeline by expanding emergency lending program
Federal authorities are reportedly considering an expansion of the Federal Reserve's emergency lending program to help banks like First Republic Bank shore up their balance sheet.
Charles Schwab says it could ride out a deposit flight
Charles Schwab’s chief executive, Walt Bettinger, said the brokerage giant could continue to operate even if it lost most of its deposits over the next year.