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Biden says 'banking system is safe' after 2 major bank failures

President Joe Biden said Monday that, “Americans can have confidence that the banking system is safe.” He also said that people’s “deposits will be there when you need them.” Biden spoke after Silicon Valley Bank collapsed on Friday and the New York-based Signature Bank failed Sunday.

Here & Now‘s Robin Young speaks with Kathryn Judge, professor of law at Columbia Law School, where she focuses on financial regulation.

This article was originally published on WBUR.org.

Copyright 2023 NPR. To see more, visit https://www.npr.org.