Federal regulators will testify before the House Financial Services Committee on March 29 about the Silicon Valley Bank (SVB) and Signature Bank collapses, according to a press release.
Treasury Secretary Janet Yellen's admission that the government is picking winners and losers in the bank bailout process, particularly disadvantaging community banks, could lead to the consolidation of banking power in the hands of a few large institutions, according to critics.
Former President Donald Trump claims he will be arrested on Tuesday as he is being investigated by New York prosecutors for payments made during his presidential campaign, with Trump calling for his followers to protest.
Financial records reveal a $3 million wire transfer from a Chinese company to Robinson Walker, LLC, with subsequent transfers to several Biden family members, raising concerns about government ethics and the need for transparency.
Russia's banking system is largely shielded from the negative effects of the U.S. crisis due to the country's limited connections with the international financial system, says Russian press secretary.
U.S. stocks plummeted Wednesday morning after bank concerns reached European markets, while investors are warning that the banking situation could worsen after the closures of Silicon Valley Bank and Signature Bank over the weekend.
