A run on deposits at Silicon Valley Bank and Signature Bank have caused concern at other regional banks that lend heavily to small and mid-size businesses.
Investors and customers are filled with anxiety watching the stock market rise and fall.
"I don't think that main street is in crisis. I don't think there's any reason to take money out of a standard checking or savings account,’ says Professor Richard Squire, of Fordham University. These are banks that lend heavily to small and mid-sized business. They are known for their support of the communities they service.
"Here's what they're going to do, is they're going to open up accounts in multiple banks and they're going to take, say, their payroll account. They're going to put it in one bank and they're going to put their tax account in another bank and they're going to put their operational account in a third bank and they're going to start spreading the money out, " says Banking expert, Carl Gould.Mortgage rates fell Monday to 6.
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