The Latest Breaking News from Washington Mutual

Bank failures aren’t as uncommon as you might think. 564 banks have collapsed since 2001, although the majority occurred during the Financial Crisis of 2007–2008 and resultant Great Recession, when 325 banks failed. 157 banks toppled in 2010 alone. Back then, the culprit was toxic subprime mortgage ...

The San Francisco-based regional bank, First Republic, was the third financial institution to declare insolvency in 2023 and the second-largest bank to fail since Washington Mutual collapsed during the Financial Crisis of 2007–2008. Plagued by many of the same issues that doomed Silicon Valley Bank ...

JPMorgan's 2008 rescues ended up costing the bank $19 billion.

Consumers are concerned if their money is safe after three banks have failed recently.

Silicon Valley Bank and Signature Bank failed with enormous speed – so quickly that they could be textbook cases of classic bank runs, in which too many depositors withdraw their funds from a bank at the same time. The failures at SVB and Signature were two of the three biggest…

While the Biden administration has no intentions of bailing out the bank, it has introduced emergency measures to protect the US economy and give bank clients access to their funds

How can a bank run happen in 2023? Why didn’t anyone step in to save SVB? And who is at risk now?

Largest bank collapse in 15 years, since global financial crisis

The Federal Deposit Insurance Corporation is seizing the assets of Silicon Valley Bank, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis