Sheila Bair: FDIC helping companies with funds in failed bank would be ‘extraordinary procedure’

Sheila Bair, former chair of the FDIC and author of the children’s book series, “Money Tales,” which provides financial literacy lessons to children, says the FDIC “arguably could” help these companies ease their payroll issues “if there’s a systemic risk exception.” But, she added that it’s hard to say that the funds these companies have stored at SVB could even be used for payroll.