that ensures bank deposits and overseas financial institutions. the agency says all insured depositors will have access to their deposits no later than monday morning. the fdic ensures deposits of up to $250,000. why did this bank fail so quickly? it is an old school bank run in a modern economy. you can point to two reasons. the first is that the fed has been increasing interest rates since 2022. that has an effect on thing bank s assets, which means its unrealized bonds were worthless money. those increased interest rates has had a devastating effect in the tech sector at large. the tech sector has seen layoffs and funds been sold off. that has led to panic. that s led to group chats of founders of vcs all abuzz with what to do with svp. that led to panic. nobody wants to be the last customer held at a bank. help break down all those affected. svb was the premier bank in silicon valley. we ve seen tech companies banking at svb as kind of a badge of honor. right now we
latest. reporter: in what would be an historic case, the manhattan district attorney closer to bringing criminal charges against former president donald trump in a long-running investigation. we will look at the facts and the law and let the investigation and justice and what justice requires will dictate how much time we take. reporter: prosecutors are giving trump the chance to testify before a grand jury investigating his alleged role in that $130,000 hush money payout to adult film star stormy daniels days before the 2016 election to cover up their alleged affair a decade early. since potential defendants are required by law to appear in front of a grand jury, it indicates a decision on whether to charge trump could come soon. it s one thing to lie on your untruth social. it s another to lie before a grand jury. i don t suspect that he is going to be coming. reporter: his former attorney, michael cohen, meeting with prosecutors friday. he was sentenced to three
congress. plus, the ohio governor is visiting the site of this toxic train derailment in east palestine at this hour just as there s news of another train crash that s killed dozens of people overseas. and tiktok taking what it considers a major step to limit daily screen time for young people. how far does it go? this is what we re watching at this hello, everyone. i m kate bolduan. we begin on capitol hill where attorney general merrick garland is testifying before the senate judiciary committee at this hour. he s facing questions on everything from gun violence and social media regulation to the fentanyl crisis and that s just in the first few minutes. he is also expected to be asked about the special counsel investigations into president biden and former president trump and their handling of classified documents and there s more already facing questions about the ongoing investigation into president biden s son hunter that republicans are pushing on. paula reid is
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welcome. it s great to see you. if you are sticking with us, we are thankful for that. i am coming to you live from washington, d.c., today. in just a couple of hours, the president will travel from the white house to the white house correspondents dinner. and annual tradition in full swing tonight. just days after announcing his reelection bid, the president will take good-natured aim at those who cover him every single day. more on that ahead. also coming up this hour, a big political fight between the white house and republicans on capitol hill over the debt limit. we re going to look at the potential impact on your family if the gop gets its way, but we are also following breaking news out of texas. where an eight year old and four other people are dead after yet again another mass shooting in this country. and the gunman, remaining at large. everybody that was shot was shot from the neck, execution style. the my understanding is that the victims came over to the friend