JPMorgan, Bank of America and 4 other Wall Street titans are set to pay $8.9 billion after this spring's banking fiasco

Mon, 08/07/2023 - 07:05

Employees stand outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California.
Justin Sullivan/Getty Images

Wall Street titans are expected to pay a multi-billion dollar price for the spring's banking chaos.
JPMorgan, BofA, and Wells Fargo are among those refilling the FDIC's deposit insurance fund.
The FDIC's fund recently took a $13 billion hit following the failure of First Republic Bank.

Wall Street's largest lenders are set to pay nearly $8.9 billion to refill the Federal Deposit Insurance Corporation (FDIC) coffers after this spring's banking fiasco.