The Latest Breaking News from FDIC

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The legendary investor bet on First Republic Bank in the first quarter. In late April the firm was seized by regulators and on May 1 was sold to JPMorgan Chase.

Regional banks remain under pressure 10 weeks after the start of the bank crisis. Regulators, JPMorgan's Jamie Dimon aim at short sellers.

Banks are attempting to keep up with the Fed—and compete with each other.

Stock futures higher as inflation risks fade; Tesla shares gain as musk finds new Twitter CEO; Microsoft faces another legal challenge to $69 billion Activision deal; PacWest leads regional banks higher as FDIC unveils new funding and Biden postpones meeting with McCarthy as debt ceiling talks hint progress.

The FDIC voted on a plan Thursday to replenish the deposit insurance fund that was hit in the recent bank collapses.

“People always look at the financial deal. Forget the financial deal ... it's a lot of work,” Dimon told Bloomberg Thursday about buying beaten down banks.

There were concerns that small banks would wind up bearing some of these costs and this proposal heads those off.

'News headlines increased our customers fears of the safety of their deposits,' PacWest said in an SEC filing.