Treasury secretary to tell Congress US banking system 'remains sound'Janet Yellen will be the first Biden administration official to face lawmakers over the decision to protect uninsured money at two failed banks.
Credit Suisse to borrow billions in central bank recovery effortLender Credit Suisse will borrow up to about $53 billion from Switzerland's central bank in a crisis-era recovery effort.
Silicon Valley Bank collapse made businesses rethink banking habitsMany small business owners are wondering how to handle their money in the wake of recent bank failures.
What is a bank run, and how did Silicon Valley Bank fail?Last week, Silicon Valley Bank failed, leaving customers in a tough spot as the government took over.
Etsy payments to resume soon after bank collapse caused delaySome Etsy payments to sellers were delayed after Silicon Valley Bank collapsed and was taken over by regulators.
Biden reacts to bank failures: 'The banking system is safe'President Joe Biden attempted to calm fears of additional bank failures after the FDIC took control of two U.S. banks.
Regulators seize New York-based Signature BankSignature Bank becomes the third-largest bank failure in U.S. history, behind Silicon Valley Bank and Washington Mutual in 2008.
Yellen: The government will not bail out Silicon Valley BankThe government reportedly looked to auction off the bank’s remaining assets, with final bids being due Sunday.
Silicon Valley Bank seized after run by depositorsSilicon Valley, the nation's 16th largest bank, was heavily exposed to the tech industry and there's little chance of contagion in the banking sector.
Ex-Goldman Sachs banker gets 10-year sentence for fraudFormer Goldman Sachs banker Roger Ng was convicted last April by a U.S. District Court jury for stealing money used for bribes and kickbacks.
Mortgage rates continue upward trajectoryFreddie Mac reported Thursday that the average rate for a 30-year mortgage is now 6.73%.
Research says Federal Reserve rate hikes likely to cause recessionThe paper comes as more economists are saying that the Fed will have to continue to raise interest rates even more than previously forecasted.
Morgan Stanley warning: S&P 500 could drop 26% in a matter of monthsBloomberg reported that a strategist predicted the index would drop as much as 26% at some point in the coming weeks and months.
How is the role of cash evolving?Digital banking is on the rise. About 197 million people used it in 2021 and that number increased to 203 million in 2022.
What’s next for crypto?Crypto keeps evolving since Bitcoin’s inception in 2009. Estimates show there are roughly 20,000 different digital tokens, coins and currencies today.
Stocks Waver On Wall Street After Mixed Data On The EconomyInvestors reviewed mixed news on the economy as markets head for a long weekend. Markets will be closed Monday for the Christmas holiday.
SBF Donated To Lawmakers Working On Crypto Policies, Newsy FindsA Newsy investigation examines Sam Bankman-Fried's donations to lawmakers on House and Senate committees considering new crypto regulations.
| Patrick Terpstra and Rosie Cima and Rachel Gold
Fed Raises Key Rate By Half-Point And Signals More To ComePolicymakers forecast that their key short-term rate will reach a range of 5% to 5.25% by the end of 2023.
Ex-FTX CEO Says He Didn't 'Knowingly' Misuse Clients' Funds"I didn't ever want to commit fraud," Sam Bankman-Fried said amid accusations he used investors' assets in FTX to place bets in the market.
Why Private Equity Is Spending Big On Health CareHow private equity firms are purchasing hospitals and what repercussions its having on patients and staff.
| Scripps News Staff and Emily Sen
Average Long-Term U.S. Mortgage Rates Tumble To 6.6%Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate fell to 6.61% from 7.08% last week.
How Trouble Started Surrounding Cryptocurrency, FTXAs the cryptocurrency collapse continues, empires with billion-dollar values are continuing to topple thanks to a lack of oversight.
Funds Vanish At Bankrupt Crypto Exchange FTX; Probe UnderwayAnalytics firm Elliptic estimates $477 million was missing from the exchange.
Embattled Crypto Exchange FTX Files For BankruptcyFTX is the latest in a series of disasters that have shaken the crypto sector, with the exchange experiencing the crypto equivalent of a bank run.
Cryptocurrencies Plummet As Binance Scraps Deal For Rival Exchange FTXThe price of Bitcoin dropped more than 13% to its lowest level since November 2020, according to CoinDesk. Ethereum also shed 13% of its value.
Elon Musk Sells $3.95 Billion Worth Of Tesla StockMusk sold 19.5 million shares of the electric car company from Nov. 4 to Nov. 8, according to the Securities and Exchange Commission.
Bank Of England Makes Biggest Interest Rate Hike In 30 YearsThe Bank of England boosted its key rate by three-quarters of a percentage point, to 3%, after consumer price inflation soared to a 40-year high.
U.S. Futures Decline Ahead Of Fed Rates DecisionFutures for the Dow Jones and S&P 500 each slipped 0.3% Monday as investors eye another meeting by the Federal Reserve to weigh on interest rates.
U.S. Mortgage Rates Top 7% For The First Time In 2 DecadesLast year at this time, rates on a 30-year mortgage averaged 3.14%.
Stocks Surge On Wall Street; U.K. Tax Retreat WelcomedEuropean markets were also broadly higher, and most Asian markets gained ground after a volatile week that closed with most major indexes in the red.
