Number of ‘Problem Banks’ Climbs in 1st Quarter, New FDIC Report Finds

Published on June 4, 2024

It has been more than a year since the regional banking crisis exposed vulnerabilities in the financial system. A new Federal Deposit Insurance Corporation (FDIC) report discovered that the banking sector is still grappling with ballooning unrealized losses, a high number of “problem” banks, and various challenges that could worsen from high inflation and interest rates. The U.S. financial regulator released the findings of the “FDIC Quarterly Banking Profile First Quarter 2024” report on May 29. Officials confirmed that unrealized losses on available-for-sale and held-to-maturity securities rose by $39 billion to $517 billion. This, the report noted, represented the ninth consecutive quarter of “unusually high unrealized losses” since the Federal Reserve started raising interest rates in March 2022....

Continue reading on website
Other news

334 Michiganders Registered to Vote After Their Deaths, Group Tells Court

June 4, 2024
“Whether by mistake or fraud,” 334 deceased Michigan registrants are listed on government records as registering to vote after their date of death, according to a recent filing in the federal Sixth Circuit Court of Appeals by the Public Interest Legal Foundation (PILF).Nearly four years ago, the PILF discovered 27,000 names of likely deceased registrants on the state’s Qualified Voter File (QVF).T

London Hospitals ‘Significantly Impacted’ Following Cyberattack: NHS

June 4, 2024
Medical procedures have been cancelled or redirected to other NHS providers following a cyberattack on major hospitals in London on Monday.Among affected hospitals in the capital are King’s College Hospital and Guy’s and St Thomas’s Hospital, which includes the Royal Brompton and the Evelina London Children’s Hospital.A spokesperson for NHS England London region said that a ransomware cyberattack