Skip to Content

Will Americans end up footing the bill for bank failures?

Pixabay / Pexels

By CHRISTOPHER RUGABER
Associated Press

WASHINGTON (AP) — The government’s response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be? It could be months before the answers are fully known. The Biden administration said it will guarantee uninsured deposits at both banks. The Federal Reserve announced a new lending program for all banks that need to borrow money to pay for withdrawals. The goal is to prevent a broadening panic in which customers rush to pull out so much money that even healthy banks buckle.

Article Topic Follows: AP National

Jump to comments ↓

The Associated Press

BE PART OF THE CONVERSATION

KYMA KECY is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content