Regulators seized First Republic Bank early Monday, making it the second-largest bank failure in U.S. history. Its deposits and most of its assets were sold to JPMorgan. The sale again raises questions about the health of the U.S. banking system.
Also on Monday, Treasury Secretary JanetYellentold lawmakers that the federal government could run out of money to pay its debts as soon asJune1 if the debt ceilingisn’traised. The Biden administration and Congress are scrambling to avoid the economic catastrophe that could arise if the government runs out of cash.
This week, the Senate Judiciary Committee held a hearing surrounding Supreme Court ethics. Justice Clarence Thomas reportedly accepted more luxury gifts from a billionaire Republican donor that he failed to disclose. Democratspresent said their goal was to get the Supreme Court to write itself a code of conduct.
We cover the most important stories from around the country in the domestic hour of the News Roundup.
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