"2023 Banking Concerns and the Potential for Another Regional Crisis"

Former FDIC Chair Sheila Bair discusses New York Community Bancorp's (NYCB) recent troubles, highlighting concerns about the banking sector's vulnerability to commercial real estate issues and the potential for more bank failures. Bair emphasizes the need for the Biden administration to reinstate the FDIC's authority to provide temporary emergency expanded deposit guarantees to address the risk of uninsured deposit runs, and suggests that consolidation among regional banks could be a solution to potential turbulence in the sector.