Bank failures, bailouts divide Congress on next steps

Here is a look at what lawmakers are saying and planning as the fallout continues from the collapse of Silicon Valley Bank and Signature Bank.

Gas prices hold steady despite market turmoil: AAA

The national average cost for a gallon of gas held steady at $3.46, even as oil prices plunged to levels not seen since August 2021, AAA said.

Parent of Silicon Valley Bank seeks bankruptcy protection

The parent of Silicon Valley Bank, seized last week by the U.S., is filing for Chapter 11 bankruptcy protection.

First Republic receives $30-billion rescue from 11 large banks

Meanwhile, Treasury Secretary Janet Yellen is firmly reassuring Congress and the nation that the U.S. banking system remains sound.

401k: More Americans are cashing out their retirement funds
video

Amid high inflation and recent concerns about the health of the country's banking system, many Americans are cashing out their retirement funds, but experts say people need to be careful on this issue. Reporter Garrett Tenney has more.

San Francisco board open to reparations with $5M payouts

Payments of $5 million to every eligible Black adult, the elimination of personal debt and tax burdens, guaranteed annual incomes of at least $97,000 for 250 years and homes in San Francisco for just $1 a family.

2 failed banks, February inflation remaining high put Fed in tough spot

The government reported Tuesday that February prices were still elevated, which could drive another interest rate hike. But the collapse of two banks in recent days has the potential to stop it.

How the fall of Silicon Valley Bank will impact hundreds of Arizonans

The failure of Silicon Valley Bank sent panic across the tech industry, but how is that threatening jobs in Arizona? For one, there are hundreds of jobs on the line as SVB has had a presence in Tempe since 2012.

Disney park price hikes 'too aggressive,' CEO Bob Iger admits

Bob Iger vows to be "smarter" about pricing as Disney moves forward, in order to maintain brand "accessibility."

Cohen to testify before grand jury in Trump hush money probe

Donald Trump’s former lawyer and fixer Michael Cohen is expected to testify Monday before a Manhattan grand jury investigating hush money payments he arranged and made on the former president’s behalf.

Biden tells US to have confidence in banks after 2 collapse

President Joe Biden on Monday told Americans the nation’s financial systems were safe, seeking to project calm following the swift and stunning collapse of two banks that prompted fears of a broader upheaval.