When it was established in 1933, some 4,000 banks had closed in the first few months alone. The FDIC is relying on one of its main tools — deposit insurance — to prevent more banks from failing.
President Biden urged calm as markets roiled over the collapse of Silicon Valley Bank. After the FDIC takeover, customers of the bank have full access to their deposits.
The ruling mostly upholds a voter-approved law that said drivers for ride-share companies are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance.
The declines come despite emergency measures by regulators to protect depositors at Silicon Valley Bank and Signature Bank and President Biden's remarks to reassure Americans.
NPR's Leila Fadel talks to Nobel Prize winner Douglas Diamond, who studies why banks fail, about what the collapses say about the stability of America's banking system.
President Biden also said insiders and investors won't be bailed out, but that companies that used the bank will be able to pay their employees and bills.
The move to limit oil drilling in 16 million acres in Alaska and the Arctic Ocean comes as regulators prepare to decide on the Willow project, a controversial plan pushed by ConocoPhillips.
Black and Latinx homes are more likely to be undervalued by real estate appraisers, who are mostly older white men. New recruiting and technology aims to change how appraisals are done and by whom.
Pascale Sablan was told she'd never become an architect because she's Black and a woman. Now she works for one of the world's top firms and she wants more people who look like her to join the field.
The implosion of Silicon Valley Bank could force hundreds of tech startups to lay off workers or shut down completely. It remains unclear how much, if any, of depositors' money will be returned.
