Michael DeVito has been able to grow the government-sponsored enterprise's net worth, but at the current pace and without a rule change, it could take 10 years to build enough capital to exit conservatorship.

The private equity firm GTCR's large investment in R&T Deposit Solutions is a sign of the windfall reciprocal deposit networks are reaping after the bank runs this spring that was driven by customers with large, mostly uninsured deposits.

The Federal Deposit Insurance Corp. acknowledges in a new report that it didn't adequately monitor First Republic Bank's uninsured deposits, interest rate risk sensitivity and rapid growth — and as a result left the bank vulnerable to contagion.

A point of sale glitch puts smaller sellers in a bind: They can refuse sales, fall back to cash and checks or take a leap of faith and absorb any transactions that fail after their systems come back online.

Bessant has served in a variety of leadership positions at the bank, including leading its technology initiatives and European strategy.

Ashton Ryan Jr. was convicted on dozens of fraud and conspiracy charges connected to the 2017 failure of the New Orleans bank he founded.