The Consumer Financial Protection Bureau is warning that the funds may be at risk if the app’s parent company runs into trouble.
Category: Federal Deposit Insurance Corp
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Corporate Bankruptcies Are Set to Reach a Decade-Long High
New data shows that 2023 is shaping up to be the biggest year for Chapter 11 filings in more than a decade.
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High Turnover and Low Pay Leave F.D.I.C. Stretched Amid Bank Turmoil
The bank regulator has seen staff lured away by the private sector, leaving the financial system more vulnerable to a crisis.
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Smaller Banks Are Scrambling as Share Prices Plunge
Investors are not convinced that regional banks including PacWest and Western Alliance can remain viable. Some are actively betting on their demise.
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Late-Night Negotiating Frenzy Left First Republic in JPMorgan’s Control
The resolution of First Republic Bank came after a frantic night of deal making by government officials and executives at the country’s biggest bank.
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F.D.I.C. Proposes Broadening Bank Insurance for Businesses
The recommendations followed concerns that fueled a run on several banks.
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Markets Shrug Off First Republic Failure
The bank’s collapse stopped short of derailing the broader market, with markets focusing instead on corporate profits and the Federal Reserve’s next decision on interest rates.
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First Republic Bank Is Seized by Regulators and Sold to JPMorgan Chase
As part of its deal, 84 First Republic branches in eight states will reopen as JPMorgan branches on Monday.
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First Republic Nears Federal Seizure as F.D.I.C. Seeks Buyers
JPMorgan and PNC, two of the country’s largest banks are said to be interested in acquiring the troubled lender after it is seized by the Federal Deposit Insurance Corporation.
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What to Watch as the Fed Releases Its Look Into Silicon Valley Bank
The Federal Reserve is set to release an examination of why its oversight of the bank failed to stem disaster at 11 a.m. on Friday.