A former relationship manager at Santander bank admitted to defrauding a vulnerable 78-year-old customer of over $125,000, the Justice Department said.

The FDIC set a Sunday deadline for bidding on First Republic Bank and has asked JPMorgan Chase & Co., PNC Financial Services Group, and other banks to send final bids.

JPMorgan Chase & Co. and PNC Financial Services Group are expected to bid to buy First Republic Bank after it is taken over by the FDIC.

The FDIC is planning to take ownership over First Republic Bank imminently and says that there's no time for the bank to go after a private sector rescue, according to a report from Reuters.

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.

Former FDIC Chair Sheila Bair warns the fallout from the Silicon Valley Bank and Signature Bank collapse could echo the 2008 Bear Stearns collapse.

FOX Business host Larry Kudlow explains how the Biden administration should respond to the Silicon Valley Bank collapse and rips their economic policies on "Kudlow."

Moody's Investors Services placed six banks on review for downgrade after the sudden collapse of Silicon Valley Bank on Friday.