mess. and treasury secretary janet yellen says the banks are not being bailed out. stock futures were up overnight, signaling confidence in the federal plan. all of this was set in motion on wednesday when svb ran low on capitol, triggering a run on the bank bank was popular with technology workers and start up companies some names that you would recognize by the end of thursday , customers had withdrawn $42 billion worth of deposits. no word yet on what caused the

collapse of signature bank and now we're going to hear from president biden. let's listen, california i want to briefly speak about what's happening in silicon valley bank and signature bank today, thanks to the quick action of my administration over the past few days, americans can have confidence that the banking system is safe. deposits will be there when you need them small businesses across the country. the deposit accounts that these banks can breathe easier, knowing they will be able to pay their workers and pay their bills. in the hard working employees can breathe easier as well. last week when we learned of the problems of the banks and the impact they could have on jobs of small businesses and banking system overall. i instructed my team to act quickly to protect these interests. they've done that. they've done that. on friday. the government regulator in charge the f d i, c took control of silicon valley bank's assets. and over the weekend it took control of signature banks assets treasury secretary yellen

and the team of banking regulators have taken action. immediate action, and here are the highlights. first all customers wepitesassured, access to theironey as of toda that includes small businesses across the country, the bank there and need to make payroll, pay their bills and stay open for business. no losses. um and this is important point. no losses will be borne by the taxpayers. repeat that no losses will be borne by the taxpayers. instead the money will come from the fees banks pay into the deposit insurance fund. because of the actions of that. because of the actions that are regulars already taken . every american should feel confident deposits will be there if and when they need them second. the management of these banks will be fired. if the bank is taken over by f d i c. the

people running the bank should not work there anymore. third investors in the banks will not be protected. they knowingly took a risk. and when the risk didn't pay off, investors lose their money. that's how capitalism works. and for us the important questions of how these banks got into the circumstance in the first place. we must get the full accounting of what happened and why those responsible can be held accountable. and my administration. no one in my room. no one is above the law. and finally, we must reduce the risk of this happening again. during the obama biden ministrations we put in place tough requirements on banks like silicon valley bank and signature bank, including the dodd frank law to make sure that crisis we saw in 2008 would not happen again. unfortunately last administration roll back some of these requirements. i'm going to ask congress and the banking regulators to strengthen the rules for banks to make it less

likely this kind of bank failure would happen again and to protect american jobs and small businesses. but the bottom line is this. americans can rest assured that our banking system is safe. your deposits are safe. let me also assure you we will not stop at this will do whatever is needed on top of all , let's also take a look at the moment to put the situation a broader context. we have made strong economic progress in the past two years we created more than 12 million new jobs. more jobs in two years than any president has ever created in a single four year term. unemployment is below 4% for 14 straight months. take home pay for workers is going up, especially for lower and middle income workers, and we've seen record numbers of people apply to start new businesses more than 10 million of them more than 10 million applications over the last two years, starting businesses now we need

to keep the program this progress going. that's what swift action that my administration over the past few years is all about protecting depositors protecting the banking system protecting the economic gains we've made together for the american people. thank you. god bless you . and may god protect our troops in california. mr. president what do you know right now about why this happened? and can you assure americans that there won't be a ripple effect fail, mr president. should all depositors be protected at all banks as president biden assuring the american public that in his words, our banking system is safe after the collapse of two banks in three days, the president says that depositors at those banks silicon valley bank signature bank will be able to access their money and will be made whole. i want to bring in abc's chief business correspondent rebecca jarvis, and senior white house correspondent mary bruce. for more on this merry the president is insisting that this isn't a bailout. so walk us through this. how is this working? yes the president there

is trying first and foremost to assure americans that the situation is under control. and as you said he wants to make sure that americans understand and feel confident that they can trust the american banking system and that they can trust their deposits are there that their money will be there when they need it? and he is underscoring this point that he says this is not a bailout that this is not a repeat of 2000 and eight. you heard him say they're clearly that the banks are paying for this that this is not coming out of american taxpayers money, and he's underscoring this point that those who are responsible will be held accountable that they will face consequences for this. but the depositors depositors, those who put their money with the financial institutions should not be the ones bearing the consequences, but the president trying to assure americans that they can feel safe in the banking system and trying to prevent any sense of panic and assure americans that there will not be a ripple effect. now rebecca, while the president is promising to hold those

responsible accountable, he's also saying they need to look into this little further to figure out how this all happened. what do we know so far? well diane, what we know is really what happened over the last decade, and that is that a number of companies got 0% interest rates expanded, especially in the tech space, especially in the crypto space. and those are the banks that we have now recently seen fail. those companies failed, and many of those companies had issues that led to these banks at least over the last decade, getting very big, much bigger than they were. and as a result of what's happened with interest rates, interest rates now going up that's made business much harder on these banks have had to sell assets as a result of that, and in turn, people customers have gotten very concerned about their financial position and gone in and done a run on the bank, which is what we saw with svb over over last week where customers pulled out $42 billion. the question going forward is what new reforms go

in place. the administration doesn't want to call this a bailout. and it makes sense why i was here in 2008 when a number of banks got bailed out that was highly unpopular people not far from here, sat in zuccotti park and wanted to abolish the fed. they wanted to see an entirely different universe. that's not really where we are today, but we are dealing with the situation that is very different than those bailouts of 2008. because in this case, what the government is doing here is they're saying every depositor no matter what thank you. banquet whether it's small or large, you will get your money back if that bank goes out of business. and the people who own stocks in those banks who had debt in those banks. they in the natural course of things will lose their money because they took on that risk, knowing that there was a risk, they could lose it again. depositors are made whole, but the people who invested in these companies will lose their money as they would any other kind of bankruptcy. diane rebecca, what are the

biggest concerns now? and what might these future regulations look like? well the concern right now is the contagion factor, and that's really what the government had tried to do over the weekend. the goal the hope was that someone might come in and buy svb that a private bank would come in by sbb. that did happen in the uk. the sbb uk assets were bought for £1 by hsbc bank overseas. the issue is that the us could not secure a buyer for spb or signature bank . now the fbi has taken over both of those banks, and they'll go through the process starting today with people who have funds in them depositors being able to take that money out. the question going forward is whether or not smaller banks will be held to a higher regulatory standard, the big banks coming out of the financial crisis did see their standard their burden of operation. up. if that's the case with smaller banks, it

could mean some of those incentives the higher yielding savings accounts that people appreciate from smaller banks are less available because they increase their standards in turning increasing their costs, and then it customer sees a little bit of less payment on their account. but of course, we all want our money to be safe when it goes into the bank, diane all right, rebecca jarvis, mary bruce, thank you both. and our coverage continues on abc news, live and abc news .com david muir will be back with the entire team. for world news tonight. i'm diane macedo in new york. have a good day. i love at president biden trying to assure americans that every thing is under control with the inking system after the collapse of silicon valley bank. reggie: on the stock market, trading is affected. we will be watching that and watching how other banks fair.

we also will be watching what the fed does. they were supposed to raise the rates again. note there is a debate whether that should happen. if they do raise the rates, should it be at a smaller rate anticipated? kumasi: we will be right back. or, cat you have... frontline® plus lets you take them everywhere... atteyou define it. or, cat you have... frontline®. the #1 name in flea and tick protection.

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with voya, considering all your financial choices together... can help you make smarter decisions. for a more confident financial future. hey, a tandem bicycle. you can't do that by yourself. voya. well planned. well invested. well protected. scattered showers along the coast and in the north bay heavier rain late tonight with our next atmospheric river. ahead of that, my gear, mild -- muggier, mild. 50's and it will be warm later

today. some wet pavement, scattered showers. mostly cloudy skies. best chance of showers today will be in the north they. temperatures later on will go into the 60's this afternoon. tomorrow morning, level 3 strong storm with the atmospheric river. heavy rain, strong wind gusts, a flood watch will go into effect, along with a high wind warning. we will look at the details coming up. jobina: we are following a couple of crashes this morning. in vacaville, we have a significant backup on westbound 80. in orinda, westbound 24 at fish ranch road. speeds down to 15 mph. some slow commutes in a few spots. and also whether impacts in saratoga, sensors lighting up in

yellow, showing the slowdown due to the mudslide and tree down in this area on state route nine. live picture in san jose showing 10 very clear. we wrap up with our drive times -- proceed to dublin, 55. everything else is on time. it doesn't care if you have a date,... ...a day off,... ...or a double shift. make your move and get out in front of eczema... with steroid-free cibinqo. not an injection,... cibinqo is a once-daily pill for those who didn't respond to past treatments. and it's proven to help provide clearer skin and relieve itch fast. cibinqo continuously treats eczema whether you're flaring or not. including tb. before and during treatment, your doctor should check for infections and do blood tests. tell your doctor if you've had hepatitis b or c, have flu-like symptoms, or are prone to infections. do not take with medicines that prevent blood clots. serious, sometimes fatal infections, lymphoma, lung, skin and other cancers,

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only from xfinity. this time three women cross the border from texas. family members say they went to a flea market but never came back. jobina: the women were traveling at three hours south of the border to sell close at the flea market they'd left for work 24th and have not been in contact with family since shortly after they left.

the husband of one contacted authorities after three days. >> they had not been in contact for four days. i asked my investigator to make contact with the fbi. the fbi said there's not much we can do. jobina: the fbi is aware of the disappearances. this case is gaining attention after that other kidnapping just across the border from el paso, texas. part people taken, two killed. authorities say it was the case of mistaken identity is by a local drug cartel. five arrested and charged with aggravated kidnapping and homicide. kumasi: pope francis marking 10 years as leader of the roman catholic church. to celebrate, he is holding a at the vatican hotel where he has lived since becoming pope. michelle yeoh night. she is the first ever asian woman to win an oscar for best

actress in her role in everything everywhere all at once. gloria rodriguez joins us live with the local impact. >> a local star-studded event celebrated this historic win of actress michelle yeoh, the first asian woman to win best actress for her role in everything everywhere all at once. >> michelle yeoh. [applause] >> you can hear the cheers. organizations put together this api oscars watch party in hillsboro. those there were well aware of the history being made. u.s. olympic champion and bay area native chrissy yamaguchi talked with abc 7 on yeoh's big win. >> it has been a long time coming. michelle yeoh is a hero in the

sense that her resilience and longevity and it just being able to continue to grow. >> many called yeoh's oscar and inspiration and help the actors as the gold standard for representation in film. ms. california 2022 was also there and said the asian-american community has faced challenges in the past couple of years and it is inspiring to see actors and actresses creating space for people like her. kumasi: we talked about the awards last night but not the fashion. reggie: one dress in particular may have stolen the show. and that was tim's. republicans may have wild on the champagne carpet, but once it got inside the gator, it -- it got inside the theater, it blocked views and folks on twitter really went off.

you can see there are people behindbeauti anthateit osd. kumasi: all the things i am not supposed to be looking at. reggie: that was the only thing i thought did work -- did not work. i thought jimmy kimmel's opening was strong. referenced the incident last year enough. it was funny, but the whole thing was like meh. reggie: she played along, but i do not know if she was the right one. i do not know we are looking for

a comedy from her. we are surrounded by funny people. bit. it looks like he was going to talk to nicole kidman, but at the last second, he swerved. i do not know if nikole knew she was on camera, but she went lik. -- not me. drew: telling peopl the movies when they are at the movies. reggie: that was funny. drew: today is a mostl day. we are preparing for our next atmospheric river later tonight. light, scattered shower with the best chance in the north bay. you will feel increased humidity and mild temperatures in the 60's. then the atmospheric river arrives. light rain at first turns heavy

tomorrow morning. today, light, isolated showers mainly in the north bay. after sunset, we will have widespread light rain that does intensify. tomorrow morning's commute is going to ba mess. d elay your commute until after 10:00 a.m. or work from home, you will be in better shape. flood watch in effect with the heavy rain will happen almost immediately because the ground is saturated. we are expecting flooded roads. when following -- rainfall estimates one to th in the mountains, we could see mudslides. high wind warning in effect. areawide, winds gusting 40 to 50 indsgusting close to 70 mph. trees are going to come down. we will also see scattered power

outages. winter storm warning also in effect. one tohr tonee torrow o gthwi a burre lakev was it ah some lig

deadly crash near san diego's black beach they beat related to human smuggling. at least 8 people were killed. not clear how many were aboard the boats when they overturned saturday night. authorities say the 911 call came from a woman who came to the one of the passengers. >> we did the best we recover people from the water, trying to find survivors. after about an hour of searching and recovering bodies, we. were in recovery mode.

kumasi: not clear what caused the boats to capsize, but followed, rough surface and black conditions likely contributed. final record sales have overtaken cds for the first time since 1987. 41 million records were sold last year. it is not just resales of oldies but current music is also popular. in 2022, the top seller in vinyl was taylor swift. next, preparing for the next big earthquake. the new program to pay for seismic retrofit work.

this is abc7 news live. kumasi: evacuations after a flooding disaster in monterey

county. residents leaving their homes is another strip river is on the way. reggie: the collapse of silicon valley bank. how president biden is reacting. kumasi: opening bell of the new york stock exchange. we get a check on the markets current reggie: we are live in hollywood with more showed celebrations and cleanup. kumasi: happy monday. drew: it is a quiet start to the day. tomorrow is when our next atmospheric river is set to arrive. now, like, scattered showers mainly in the north bay. this is sfo with some gouecke tarmac. mostly cloudy skies. today, any showers are light and the best chance lies in the north bay. for most of us, it is mostly cloudy, muggy, mild. temperatures in the 60's tomorrow afternoon.

tomorrow morning, level 3 strong storm. rain heavy at times, leading to flooding. potential mudslides, strong, damaging wind gusts as well. two high wind warnings. close look at the details in 8 minutes. kumasi: governor newsom has expanded an emergency declaration to six additional counties, as floodwaters force people in monterey county to evacuate. >> good morning. northern california is getting crushed with storms. monterey county cannot take the water anymore. the river over the weekend bursting its levy and flooding towns around the river and downstream. all the streets here are flooded. you can hear the river coming to this area. the only way in and out of the

neighborhoods here is bite military vehicles or invite boats. the water meet the growing down a bit here -- may the going down a bit here but it is still rising elsewhere. evacuees are spread out in hotels and with friends and family and in at least four talkers. no telling what folks will be able to come back into their homes with more rain coming, these rivers are going to go down monnue to rise. e extend evacuation orders. hopefully things calm down after this next storm, but it is a doozy, as you know. we will just have to wait for drier days. calfire officials working to remove snow around north lake tahoe.the city got heavy snowfall this weekend, which has led to a lot of hazards for structures. a lot of businesses are closed. as more rate moves through the bay area this week, you can keep

track of the changing conditions and access live doppler 7 available on demand on our act. -- our app. kumasi: president biden spoke about a half-hour ago to shore up the banking industry. what customers should know about accessing their money. >> once branches opened up later this morning, customers will have access to all of their funds. relief comes after president biden addressed the nation at the top of this hour, 30 minutes ago speaking specifically about failed silicon valley bank and signature bank of new york. the president committing to hold those responsible accountable as he continues to push every student strengthen oversight and regulation of larger banks. svb being the 16th largest bank in the country. the fdic says depositors will

have full access through bridge bank, silicon valley bank. it will open, resume normal hours and online banking. >> americans can rest assured that our banking system is safe, their deposits are safe. let me also assure you we will do whatever is needed. >> that bridge bank is d to bridge the gap between the failure of a and the time when stability and resolution can be made. there has been worry over what the collapse might mean for regional and smaller banks, but this is not a bailout. that was stretched - by the treasury secretary and the president. this is different. it comes from the funding account to the fbi see, different from the taxpayer bailouts of the

crisis. the branch in palo alto opens at 9:00 this morning. reggie: thank you. a police shooting in brentwood under investigation after an apparent hostage situation. this happened around 95 last night on sycamore avenue. police received a report about a woman being held against her will by an armed man that she knows. officers say the 30-year-old suspect from long beach shot at officers. one return fire and hit the suspect. both the suspect and victim were taken to the hospital. they are expected to ok and no one else was hurt. kumasi: meta planning a new round of layoffs. jobina: we are learning that meta is planning to announce layoffs in multiple rounds which would in toto be 30%.

-- 13% or 11,000 job the first wave is set to be announced next week. met shares rose by more than 2% in after-hours trading following the wall street journal's report. projects reportedly being slashed suggests that be pulling back on products that popularize virtual and augmented reality. they will be moving many of their offices to so-called hot desks or setups where employees use shared workspaces rather than permanently assigned desks or offices. a person familiar with the matter who chad with the wall street journal since those laid off should expect roughly the same severance as the cuts in november. reggie: dear half moon bay, fire

fighters rescued two surfers step on a cliff. they say the service prior to swim back to the beach after the nation broke on one of their boards, but they got caught in a riptide. a friend on the beach called 91e call for the pilot of this claimed that crashed in castroville. our sister station reports the the engine plane went down yesterday afternoon. other video shows the pilot managing to reject and parachute down. the plane landed in this but it failed. the pilot was the only one on board and had a leg injury. the plane is registered to a man in, out, but the pilot has not yet been named. reggie: arson investigators trying to get to the bottom of what sparked a fire in san jose. it destroyed the 118

nelson toulouse house. the rear wall of the house was scorched with window damage. the house holds a gallery of paintings by famed santa clara valley artists. kumasi: i after a picture of it of heather was taped to a dorm room at stanford. -- a picture of adolph was taped into a drummer met stanford. the incident is being treated as a crime and the persons who did it could face legal action. reggie: homeowners preparing for the next big earthquake. you may qualify. in oakland, francisco, people can apply for grants starting in april to reinforce single-family homes. most commonly, it is older homes with a garage below the main living space.

many homes can be reinforced with steel or white, which can cost between $14,000 and $27,000. the program will give grants of up to $13,000 each. go to his bigauthority.com. kumasi: we know how for an earthquake. if you need help, you can go to our website. the san francisco police department planning to increase representation. the examiner is reporting efforts are meant to advance women on the force. the department is set goal of retracing women recruits by 30% by the year 20 30. women make up only 12% of sworn officers and 3% of police leadership in the country. reggie: cambridge lights on again. what officials are saying about the installation that reappeared overnight.

kumasi: looking to live at the new york stock exchange. we are staring down right now by about 140 points. another update on the markets next. how much more san francisco residents could be paying for garbage pickup soon. today with us on the applicant for abc 7 at 7:00. we are live weekdays at 7:00 a.m. and you can download the app. drew: life, scattered showers today. preparing for another atmospheric river to arrive early tomorrow morning. here is all this moisture moving toward northern and central california. it will be a level 3 strong storm tomorrow morning. ahead of it, muggy with increased humidity and mild temperatures. best chance of a scattered shower is probably in the north low and mid 60's later on today. here is future weather. isolated, scattered showers late in nature. by tonight, light rain becoming more widespread.

tomorrow morning for the morning commute, we will have heavy rain falling at times and also have some strong, gusty winds. strong concerns on tues to have new flooding around. once the rain starts falling, it will run off almost immediately. if you can work from home tomorrow or the commute until after 10:00 a.m., you will be in much better shape. we will find water on our roadways and strong winds will bring down trees. a flood watch is in effect for the heavy rain. also high wind warning in effect. we will take a closer look coming up. jobina: a couple of i starting in vacaville. this has not let up, this crash on westbound 80. one lane still blocked, backup continuing and speeds down to six mph. this crash on westbound 24 at

fish bridge road has cleared but the backup is still there. speeds around 17 mph. san francisco, eastbound 80 past 101, problem spot. a couple of different crashes. now we have a full closure on state route nine and bucher road due to the mudslide and down treatment that is why he see that purple line. look at the plaza. does not look too bad.

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kumasi: to the oscars, kelly and ryan, abc seven news giving us a sleepy. -- a sneak peek. >>

the pandemic, the kelly and ryan after the oscars show did a pandemic pause but is back live for the first time in years. they went wild. check it out. adobe theater was packed with a smaller crowd than usual, about 2500 guests. they went wild as kelly and brian recapped some of the last moments, such as when he the one called winning an oscar his american dream. i also had the chance to make some memorable moments and catch up with some stars. how do you get ready for the oscars? >> tequila. want some? >> i am pregnant. chocolate? i am ravenous. >> wad30 o s

erodca one. your baby is a boy, call him wolfgang. >> you have a deal. apparently, if i say that l on tv, it has to happen. your moat was hilarious, a little sneak peek. he is a comedian after all, i caught him taking this fake microphone, unscrew the top, and pouring tequila in it. in a couple of moments, i will be talking with jason raz and kelly and ryan themselves. jason just took the stage, so we will rush on in and have that for you later. then, i am going to take a nap. kumasi: you need a knack. i am -- a nap. i am excited about your interview with jamie lee curtis. >> she came over to us. she is so down to earth, so

kind. she did not even have a publicist. you have done this. you have to fight them down, yell at them but she sauntered up to us and wanted to check. that made me respect and love her even more. ie: that is surprising. she is a huge star. go have fun with ryan and kelly. >> there were other stars who -- definitely not. you do everything to get them to come over to you. some will not give you the time of day. reggie: do not name names. kumasi: last gobert did you have a person where you were like, this is who i want to talk to jacob -- to? >> the person i really wanted to

talk to was too busy for me. kumasi: i feel your pain. reggie: we will keep watchin dan is going to have to been kelly and ryan and others. we will continue watching for that. fun. dion did a great job. you also did a great job last year. it looks fun. did you feel personally attacked when they did not come over? kumasi: yes. i really want to talk to denzel. he did not have time for anybody. reggie: but you got really good people. about with jamie lee curtis is how i feel about kevin costner. it is happening like this? he just sauntered on over and

was like, let's just talk. reggie: i like that kind of hollywood star. kumasi: one big sta getting buzz online. the official trailer of the little mermaid was unveiled during the oscars. ♪ kumasi: that is the star hallie bailey. she plays ariel in the film. you will hear iconic music from the original and some songs from lin-manuel miranda. below mermaid hits may try sex. disney is the parent company of abc 7. drew: it was a good trailer. it was the first time we saw a

lot of the characters. reggie: typeset a screen grab where flounder was there. -- i saw a screen grab where flounder was there. flounder is like a real fish. drew: it will be interesting to see how they come back to life. reggie: and the notes she is hitting. drew: crushing it. reggie: they played a lot of part of your world. it might be the best or at least in the top three busy sounds. -- disney songs. drew: allotted is in the mix somewhere. -- aladin somewhere. esmeralda, no respect. kumasi: and beauty and the beast.

reggie: celine dion. drew: today. it is muggy and mild. temperatures in the low end made 60's, all in anticipation for our next atmospheric river tonight. it is a level three strong storm. drink new be heavy at times, especially during the commute. -- rain will be heavy at times as we head toward 11:30, that is when rain becomes more widespread and then turns heavy. the morning commute tomorrow will be messy with heavy rain and strong, and gusty winds. after 10:00 a.m., the heaviest rain moves out, but we are seeing one to three inches of rain. this will lead to flooding. the ground is saturated from last week. winds will be stronger than last week, testing 30 to 50 mph.

along the coast, winds could gust close to 70 mph. that will bring trees down and we are anticipating power outages. winter storm warning in effect above the 6500 feet. one to three feet of snow, so high snow levels with a warm atmospheric river. get her chores today. tomorrow morning between 2:00 a.m. and 10:00 a.m. on tuesday, that is the worst impact of rain and wind. we will get a break. was in thursday, we dry out -- wednesday and thursday, we dry out. reggie: san francisco bay's all birds seeing its fortune dropped, struck down significantly just a year after it went public. the company makes a washable wall sneaker. -- it was trading at just $1.29 on friday. kumasi: expected to hike the

price of garbage pickup in san francisco. people claim the price is lower in sf than oakland and san jose. the hike is expected in october and another hike in 2024, pending approval. if approved, residents could see the average garbage collection bill jump to just under $50 a month. reggie: cap the new york stock exchange, we are in positive territory. a lot of people are watching to see what happens with the banking industry today. we are up about 19 point. kumasi: you might notice something familiar returning to the bay bridge -- the lights are back. here is what is behind this. there is some kind of glitch that triggered the lights. they are trying to figure out how to turn the lights off. there it was so much talk as he

week ago when plates were said to be going dark because of a lack of funding for repairs. a fundraising effort to bring the lights back permanently is underway. reggie: effect between a rock and a hard place takes on new meaning when an alligator is involved. this is florida at a golf course. an alligator is trying to get through this. -- this fence. it is kind of succeeding. wow. that is impressive. that alligator is strong. looks like this man is trying to help out. that is nice. kumasi: no, it is not. does that alligator looked like it needs help? reggie: you are right about that. i think i would have just watched to make sure it got through. if it needed an actor pushed, you do that but then you run. like this.

kumasi: maybe a little shake. reggie: i am assuming the alligator is fine. i do not actually know but i am assuming. look outside. it is snowing in tahoe.

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reassuring americans that the banking system is safe. his message coming after the collapse of silicon valley bank. customers will be able to access their money this morning. reggie: growing crisis in monterey county after the river burst through the lobby. nearly 800 homes impacted. crews and the national guard have responded. bay area this weekend from sonoma county to beaumont. rain caused a lot of issues. reggie: crews working to remove

snow from around north lake tahoe. heavy snow forced many businesses to close this again. drew: anticipating our next atmospheric river tonight today mostly cloudy. shower chances highest in the north bay, where they will be scattered and light. sunrise is at some 23 times this morning. sunset at 7:14. our atmospheric river does arrive later tonight. tomorrow morning will be messy for the commute. level 3 strong storm. rate will be heavy at times been a flood watch is in effect. we will have strong, damaging wind gusts. we will find trees coming down and flooding. jobina: we are still following a crash in vacaville. this is our most significant backup of the morning on westbound 80 past meridian road. speeds down to 70 mph.

in marinda, slow ride kumasi: it was a big night at the oscars. everything -- everything everywhere all at once lived up during its title and took home the gold in seven categories, including best picture, best actress for michelle yeoh, and best's for the daniels. full coverage at abc7news.com. dion is down there reporting live. we will check back in with her. reggie: shut out to the daniels. we just mentioned them as the winners. they won -- they wrote the screenplay as well. they think their parents and said thanks for not squashing my creativity when i was dressing in drag, which is a right to know when. drew: andy daniel kwan, turned

down in 2013. kumasi: [laughter] good morning, america, for our viewers in the west. another bank shut down after a frantic weekend. overnight, the government takes emergency action to contain the fallout from the collapse of silicon valley bank. why regulators stepped in. what it could mean for other smaller regional banks and your money. the reaction from president biden and the white house this morning. new legal trouble for former president trump. his former fixer michael cohen set to testify before a grand jury in new york, hearing evidence about trump's role in the hush money payment to stormy daniels. trump's lawyer is here live first on "gma" this morning. fatal stalking? the podcaster and her husband gunned down in their home after she sought police protection. what police are saying about the