FDIC chairman Martin Gruenberg says he's prepared to step down once a successor is confirmed. Gruenberg has been widely criticized for fostering a toxic workplace at the agency.
A law firm investigation of the FDIC documents a toxic workplace culture where hundreds of employees complained of sexual harassment, discrimination and other misconduct.
JPMorgan Chase is taking over First Republic after the troubled bank was placed in the FDIC's receivership in the latest failure in the banking system.
The Federal Reserve and the FDIC are set to report Friday on their oversight of two failed banks. The banks' collapse six weeks ago rocked credit markets and raised the risk of recession.
Regulators need to decide how to recover the cost of rescuing Silicon Valley Bank and Signature Bank — and community banks across the country are warning they should not be on the hook.
A top federal regulator called the failure of Silicon Valley Bank a "textbook case of bank mismanagement" during a Senate hearing about what led to its spectacular collapse
First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world.
Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.
The collapse of Silicon Valley Bank last Friday set off a series of events that have many reeling about just what is happening at banks in the U.S. and around the world.
Some say the decision to guarantee deposits beyond the typical $250,000 limit was necessary to keep the financial system stable. Others argue this sets a bad precedent if other banks run into trouble.
