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PublishedMarch 16, 2023
Treasury Secretary Yellen tells Congress U.S. banking system ‘remains sound’
In less than a week, Silicon Valley Bank, based in Santa Clara, California, failed after depositors rushed to withdraw money amid anxiety over the bank’s health.
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PublishedMarch 15, 2023
Stocks tumble on Wall Street on renewed fears about banks
The heaviest losses are focused on smaller and midsize banks, which are seen as more at risk of having customers try to pull their money out en masse.
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PublishedMarch 14, 2023
Is my money safe? What you need to know about bank failures
Nearly all banks are FDIC insured. Credit unions are insured by the National Credit Union Administration.
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PublishedMarch 13, 2023
Bank stocks tumble while others rise on hopes for easier interest rates
The most pressure is on the regional banks a couple steps below in size of the massive, 'too-big-to-fail' banks that helped take down the economy in 2007 and 2008.
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PublishedMarch 13, 2023
After 2nd collapse, Biden says U.S. can have confidence in banks
The president says he would seek to hold those responsible accountable, and he promised that no losses would be borne by taxpayers.
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PublishedNovember 2, 2022
Fed unleashes another big interest rate hike but hints at a pullback
It is the central bank’s 6th rate hike this year – a streak that has made mortgages and other consumer and business loans increasingly expensive and heightened the risk of a recession.
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PublishedOctober 26, 2022
With Americans feeling pinched, Biden targets banks’ ‘junk fees’
The Consumer Financial Protection Bureau is targeting overdraft fees charged by banks as well as bad check fees, which are levied against a bank customer when a check isn't valid.
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PublishedOctober 26, 2022
Record number of Americans now have bank accounts, government reports
The FDIC attributed most of the improvement to the stronger economy in 2021, as the coronavirus pandemic restrictions largely expired and there were low levels of unemployment.
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PublishedOctober 21, 2022
Gardiner man confessed to robbery of Augusta bank, police say
Documents filed in court by Augusta police say Joshua A. Brougham confessed to them he robbed Camden National Bank on Saturday, Oct. 15 because he needed money to support a drug habit, pay back a debt and buy gas.
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PublishedAugust 26, 2022
Dow drops 1,008 points on Fed chairman’s rates speech
Jerome Powell says further interest rate increases are in order to beat back the high inflation sweeping the country.
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