Banks Archives - Slay News

NYC Officials Freeze Accounts after Banks Fail to Submit Plans to ‘Combat Discrimination’

New York City officials have placed limits on accounts at two top banks after the financial institutions failed to submit their plans for combatting "discrimination in their operations." NYC Comptroller Brad Lander limited account deposits on Thursday at Capital One and KeyBank for failing to submit the required plans. The move…

Republicans and Democrats Unite to Keep Big Bankers off Federal Reserve Boards

Two opposing U.S. senators have joined forces in a bipartisan effort to keep the presence of big banks away from Federal Reserve boards of directors. Sens. Elizabeth Warren (D-MA) and Rick Scott (R-FL) have proposed a bipartisan bill to keep big bankers off the boards of regional Federal Reserve banks.…

Big Banks Hits with Huge FDIC Fees Hike amid Banking Crisis

America's biggest banks are being hit with huge hikes in Federal Deposit Insurance Corporation (FDIC) after several recent banking failures. The FDIC said big banks will bear billions of dollars in extra fees to replenish a deposit insurance fund used to bail out banks in March. The recent collapse of…

Regional Bank Stocks Rebound as Jobs Report Beats Forecasts

A government jobs report has provided some positive economic news amid the banking crisis, causing regional bank stocks to rebound sharply. Regional bank shares rallied premarket and extended those gains in early trading Friday. The spike comes after a bruising session on Thursday. The turnaround came as a government jobs…

Ex-Fed President Kaplan Warns Banking Crisis Is ‘More Serious’ Than Public Knows

Former Federal Reserve Bank of Dallas President Robert Kaplan has warned that the mounting banking crisis is "more serious" than the American public realizes. Kaplan says the situation is direr than commonly believed and he's calling the central bank to pause its rate hiking cycle. In an interview on Bloomberg…

First Republic Bank Collapses as Regulators Take Control

First Republic Bank has collapsed, marking the third significant implosion in under two months. The Federal Deposit Insurance Corporation (FDIC) has placed First Republic Bank under receivership. The bank, one of the largest in America, is the biggest financial institution to fail so far this year. As Slay News had…

One of America’s Largest Banks Is on Verge of Collapsing

First Republic Bank has seen its share prices plunge to new lows this week, taking the institution to the verge of collapsing. America's economy is still reeling from the sudden collapse of Silicon Valley Bank (SVB) and Signature Bank last month. However, it does appear that the financial system has…

Top Economist Issues Warning about Banking Crisis: ‘The Worst Is Ahead of Us’

A top U.S. economist has issued a warning to the American people regarding the banking crisis. Nouriel Roubini has warned that the worst is yet to come for the U.S. economy in the wake of the recent banking turmoil. According to Roubini, the crisis could lead to a serious credit…

America’s Biggest Banks Experience Major Surge in Withdrawals

America's largest banks experienced a major surge in withdrawals last week as the banking crisis appears to be deepening. The 25 biggest banks in the United States saw a huge $90 billion outflow of deposits last week. The news is a sharp reversal from the prior week where larger financial…

Banks Are Borrowing Billions to Maintain Liquidity amid Banking Crisis, Fed Data Shows

U.S. banks are borrowing billions of dollars to maintain liquidity following the recent collapse of Silicon Valley Bank (SVB), data published by the Federal Reserve shows. Banks have borrowed a combined total of $164.9 billion from the central bank in recent weeks amid the banking crisis, according to Fed statistics released…