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March 14, 2023 Subscribe Read in browser Daily Skimm Skimm'd while reading our State of Women report on Equal Pay Day "Boneless wings" — The reason someone is suing Buffalo Wild Wings. Guess he's got a bone to pick. Top Story Aftermath The Story The fallout from SVB continues. Comforting. After Silicon Valley Bank's (SVB) collapse, the banking world is scrambling, the stock market has seen better days, and the Biden admin is trying to save consumer confidence in the US banking system. SVB's shareholders are now suing the company for fraud and accusing the bank of covering up how rising interest rates left SVB susceptible to a bank run. On top of that, SVB's still looking for potential buyers. Meanwhile, Signature Bank has also closed down and many are waiting for the other shoe to drop. If you're figuring out if you should run, not walk, to your local bank, we're here to help answer some questions: Is my bank at risk? If you're stashing your funds with major banks like JPMorgan Chase, Citigroup, Bank of America, or Wells Fargo, chances are you're fine. These banks all have more diverse deposits (which is a good thing) and have seen minimal changes since the SVB fallout. Is my money safe? Long story short, anyone with $250,000 or less in the bank should be safe because the Federal Deposit Insurance Corporation (FDIC) insures up to that much in eligible accounts. Those with joint accounts are covered for up to $500,000. On that note, here's how to check if your bank is FDIC-insured. Should I start mattress stashing? If you're lucky enough to have more than a quarter million in cash, many experts recommend splitting it up across multiple banks. Also a friendly reminder: a bank run ($42 billion dollars worth) played a big role in SVB's downfall. How's the gov responding? The Fed, Treasury Dept, and FDIC stepped up to make sure all deposits at the affected banks — even those more than $250,000 — will be returned. The Fed also said it's creating a special loan program that protects other institutions from a potential bank run or the fallout. Meanwhile, there could be new banking regulations in the works as Congress looks into SVB's downfall. theSkimm Many are clutching their debit cards and getting 2008 flashbacks after two medium-sized banks failed in the span of a few days. But there are more regulations to keep a crisis like that at bay, and federal officials are saying new emergency measures should help stabilize the banking system. Related Stories: What Small Businesses Should Look For When Choosing A Bank Why Experts Say This Is Not A 2008 Repeat The Fed Might Reconsider Its Next Interest Rate Hike And Also...This Who climate activists aren't happy with… President Biden. Yesterday, he approved the Willow oil-drilling project in Alaska. The $8 billion project, led by oil giant ConocoPhillips, has the capacity to produce more than 600 million barrels of oil over 30 years. All that oil, if burned, could release nearly 280 million metric tons of carbon emissions — the equivalent of putting about 182 gas-powered cars on the road every day. Alaska Republicans and Democrats applauded the project's approval, saying it could create hundreds of new jobs. But environmentalists and climate activists denounced the project as a "carbon bomb." They're expected to sue and have called Biden out, saying he campaigned to ban new drilling on federal land and promised to reduce the US's carbon footprint. The Biden admin said it couldn't have blocked the project, since ConocoPhillips has leases on the land. It's snow good: Over the weekend, Biden announced the US Arctic Ocean was off limits to future oil and gas leasing in an effort to appease critics. But many called the move a "performative action." What's a cause for concern… Infant deaths. Yesterday, a new study found that the rate of sudden unexpected infant deaths (SUIDs) jumped for Black babies in 2020. Each year, about 3,400 babies die from sudden infant death syndrome (SIDS), accidental suffocation, and other unknown causes. Now, researchers have found that the SUID rate for Black babies during the first year of the pandemic was nearly three times higher than the rate for white babies. Researchers said the increase could be the result of how SUIDs are classified. It's not clear if the pandemic, which disproportionately affected communities of color, played a role in the increased rate. In the meantime, researchers are also putting a spotlight on unsafe sleep practices, which are often associated with SUIDs. Who people are remembering… Former Rep. Patricia Schroeder. Yesterday, the women's rights pioneer died from complications of a stroke. She was 82. In 1972, Schroeder was first elected to Congress in Colorado. Throughout her 24 years serving in the House, she championed bills like the Family and Medical Leave Act of 1993, which provides up to 12 weeks of unpaid leave to care for a newborn, sick parent or child. She also helped pass the Pregnancy Discrimination Act of 1978, which bans discrimination in the workplace on the basis of pregnancy. Schroeder was also the first woman to serve in the House Armed Services Committee. She's being remembered as a trailblazer, with one official reportedly saying, "Every woman in this house is walking in her footsteps." Why you might want to look into bidets… TP with PFAS. While some are celebrating Pi Day with actual pies... Some schools are getting ready to stack up Lunchables. Why you might want to try your luck with Ticketmaster… Drake and 21 Savage. Skimm Life Here at theSkimm, we love testing products and then sharing what's really worth it. This week, our editors have bedtime on the brain. Check out: A soothing pillow spray to spritz before getting into bed This delicious tea bundle to sip after dinner Today is Equal Pay Day – a day that marks how far into this year a woman in the US would need to work, on average, to catch up to a man's pay from 2022. Because despite the 1963 Equal Pay Act, women get paid 77 cents for every dollar a man earns. And it's worse for some BIPOC women. Our State of Women initiative unpacks how we can push for equity and create change. Because the state of women today? It's not working. Here are today's recs to help you live a smarter life… 1. The only shoes you need for spring. This viral brand's celeb- (and HQ'r-)loved sneakers are finally back in stock after a 77K waitlist. They're insanely comfy, sustainably made, and come in 10+ colors and prints, including polka dots. Plus Skimm'rs get an exclusive 20% off.* 2. Mascara that'll make your friends think you're wearing extensions. Meet the breakout star of your beauty routine. This nourishing formula — which has 25K five-star reviews — instantly delivers long, lifted lashes and strengthens them over time. Plus Skimm'rs get 15% off.* 3. A sugar-free citrus blend for your daily routine. Made with 16 science-backed ingredients, this powder is clinically proven to reduce cortisol (aka the stress hormone). Support for your stress levels and heart health, coming right up. Psst…Skimm's get an exclusive 40% off with code SKIMM.* 4. 30% off sitewide with code SLEEPWEEK at Cozy Earth. Catch some very good Zzz's thanks to the brand's silk pillow and bamboo mattress pad. Is it time for bed yet? Psst...looking for more discounts on brands Skimm'rs love? Check out all of our exclusive promo codes here. Skimm'rs We like to celebrate the wins, big and small. Let us know how your friends, neighbors, coworkers (and yes, even you) are making career moves, checking off goals, or making an impact in the community. Feeling patriotic…Sophie P (WI). She recently received the Patriot Award at work. The honor recognizes the support she provided to her coworker during his year of deployment. (Some) Birthdays…theSkimm's Emmy Favilla (NY), Nat Gryll (DC), Shelley Greebel (NY), Liz Koenigsfeld (IA), Jesi Pickell (TN), Natalie Holzkopf (IL), Sarah Overstreet (TX), Janessa Lewis (TN), Evan Hansen (OH), Anna Erickson (ND), Ariel Spiegel (OH), Tyree Stewart (TX), Caitlin Winkelman (IL), Cindy Pembleton (NC) PS: Paging all members of theSkimm. Reach out here for a chance to be featured. Skimm'd by Rashaan Ayesh, Melanie De Lima, Maria del Carmen Corpus, and Mariza Smajlaj Photos by Nikolas Liepins/Anadolu Agency via Getty Images, Brand Partners Design by theSkimm *PS: This is a sponsored post. Want to wake up with us every morning? Subscribe to the Daily Skimm. 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