watch now Sen. Elizabeth Warren wants banking to be “boring” again following the failures of Silicon Valley Bank and Signature Bank. “What I want to do is get banking back where it ought to be, and that is boring,” Warren, D-Mass., said Friday morning on CNBC’s “Squawk on the Street.” “Banking is supposed to be there for putting your money in and you can count on it’s going to be there, and that’s true if you’re a family, that’s true if you’re a small business.” related investing news Club...

watch now President Joe Biden called on Congress to give regulators more authority to claw back pay and penalize executives at distressed banks “whose mismanagement contributed to their institutions failing.” “No one is above the law – and strengthening accountability is an important deterrent to prevent mismanagement in the future,” Biden said in a statement Friday, days after federal bank regulators stepped in to guarantee deposits at two banks that failed over the weekend. “When banks fail...

watch now WASHINGTON — President Joe Biden sought to assure customers of Silicon Valley Bank and Signature Bank on Monday that their money was safe — insured by the Deposit Insurance Fund — but said investors in the failed banks’ securities aren’t going to get the same guarantee. “Investors in the banks will not be protected,” Biden said in a White House speech. “They knowingly took a risk and when the risk didn’t pay off, the investors lose their money. That’s how capitalism works.” The...

When Betty McKennon, 83, needs to deposit a check, she walks down the hall of her retirement complex in Freehold, N.J., to the OceanFirst machine. It looks similar to an ATM, but if she needs assistance, she presses a button to start a video chat. Kevin Williams pops up on the screen to assist. He’s at his desk 30 miles away in Toms River, N.J., but McKennon knows him by name. He’s her neighborhood teller, even though they’ve never met in person. McKennon has a computer and a Kindle Fire, but...