U.S. Vice President Kamala Harris and second gentleman Douglas Emhoff descend from Air Force Two in Wilmington, DE, U.S., July 22, 2024. Erin Schaff | Via Reuters Vice President Kamala Harris’ personal financial records are under fresh scrutiny now that she is running for the highest office in the United States. Experts say recent tax … Read more
Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation (FDIC), during a House Financial Services Committee oversight hearing in Washington, DC, US, on Wednesday, May 15, 2024. Graeme Sloane | Bloomberg | Getty Images The Federal Deposit Insurance Corp. failed to report allegations of senior officials’ misconduct in a timely manner, according to a new … Read more
NEW YORK (AP) — Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation, will step down from his post once a successor is appointed, the White House said Monday. Gruenberg’s announced departure comes after damning report about the agency’s toxic workplace culture was released earlier this month and political pressure from the top Democrat … Read more
Martin Gruenberg, Chair of the Federal Deposit Insurance Corporation (FDIC) testifies before the Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill on May 16, 2024 in Washington, DC. Kevin Dietsch | Getty Images Federal Deposit Insurance Corporation Chairman Martin Gruenberg announced Monday that he will resign, after a recent probe found a widespread … Read more
Hundreds of small and regional banks across the U.S. are feeling stressed. “You could see some banks either fail or at least, you know, dip below their minimum capital requirements,” Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and … Read more
Regional bank earnings may expose critical weaknesses, according to Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp. Their quarterly numbers begin hitting Wall Street this week. “I’m worried about a handful of them,” Bair told CNBC’s “Fast Money” on Tuesday. “I think some of them are still overly reliant on industry deposits, … Read more
Simpleimages | Moment | Getty Images Higher interest rates were good news in 2023 for savers who were able to earn the best rates on their cash in years. Even with the possibility of looming rate cuts by the Federal Reserve, 2024 still stands to be a great year for returns on cash. “Yields are … Read more
