we will see you back here at 6:00. . breaking news tonight. the major action the government plans to take after the collapse of silicon valley bank. the new plan to ensure customers can gain access to their money tomorrow, amid fears more banks could fall. panicked customers lining up at other banks this weekend what the treasury secretary said about a bailout. we're not going to do that again. >> and what you need to know about your

plun > money. how much snow will some areas get deady journey. at least eight people killed, more missing when their boat capsized off san diego. why authorities suspect human smugglers. former vice president mike pence takes a big swing at former president trump. one state urging people to avoid travel to all of mexico as spring break ramps up. should americans cancel their trips plus a young girl's song writing goes global. how musicians from around the world brought it to life this is nbc nightly news with kate snow good evening we start with a lot of breaking news. after a weekend of working in overdrive, the treasury secretary along with the fed and fdic just announce add nannounced a

new plan, the goal to prevent more panic and failure of more banks. but at nearly the same time that statement came out there is yet another bank that has been forced to close, signature bank in new york city. the race against the clock this weekend was to find some sort of solution for depositors at silicon valley bank who are owed billions of dollars and to have that solution before the markets open tomorrow morning experts have been clear it is highly unlikely this will turn into a major meltdown like what happened in 2008 we're going to do our best to break down what it means for your money and the economy. we have two reports beginning with george solis. >> reporter: tonight the federal government working to calm fears, announcing they will back all deposits at silicon valley bank after their historic fall customers will be able to get their money as soon asible to authorities also say they closed signature bank in new york city adding that any losses by customers will be recovered. now fears that other banks could also fall.

long lines could be seen outside first republic bank this weekend. the bank trying to assure customers in a statement saying we want to reenforce the safety and stability of first republic adding our capital remains strong the news comes shortly after janet yellen indicated there would be no government bailout following the collapse of 2008 >> the reforms put in place means we're not going to do that again. >> reporter: silicon valley bank serves more than half of the once-booming tech scene. small business owners have their money tied up, too. >> this is everything we have saved. >> reporter: amanda babcock says relief can't come soon enough you're not a giant tech startup you aren't investing millions this is your live lie holively hood >> it is >> reporter: bank employees received

their bonuses just hours before the bank was seized by regulators just hours ago, cnbc learned that an auction was held to buy svb. last bids were due at 2:00 p.m. today. >> we have went to two other banks and have started withdrawing the funds. >> reporter: yeah, katie, it was a massive scramble for government agencies this weekend they worked to resolve their as soon as possible before asian and european markets open tomorrow. >> george solis reporting. i want to bring in mike santoli what can you tell us about this latest closure with signature bank >> signature bank was another struggling institution. actually was targeted last year by investors and depositors as potentially being at risk they specialize in lend being to the crypto currency agency it is a narrowly-focussed bank, one that has

struggled with other lenders related to crypto it has regulators forcing it to close and all of their depositors will be made whole as well >> what does this mean for every day people out there concerned about thsavings? >> in the most basic terms it means they need not be concerned about the security in just about any bank. this program will allow banks, if they need it, to access funds that they can essentially make sure all deposits are safe out there and of course there is only really has been a question for deposits above $250,000 per account. up to $250,000 the fdic already had insurance. this is for larger accounts the catastrophic flooding along the central california coast is only getting worse tonight. a second round of heavy rain is heading for the state. a levee has also been breached and evacuations are under way, and tonight a new

warning that in some areas the tap water is no longer safe to drink. steve patterson has the latest >> reporter: pounding hail in central california, as wild weather pummels the west >> i felt really, really scared, because it sounded really, really, really noisy like there was a tornado out there. >> reporter: near fresno the national weather service confirmed several funnel clouds saturday but no tornado touchdown. a failed levee in monterey county swamping a community, authorities urging people to follow evacuation orders. what's your warning to people who do not want to leave >> for people who don't want to leave, i got to tell you, i don't want to be at your funeral i don't want to read about new the paper about the loss of life >> reporter: rescuers pulling more than 150 people to safety already. this man lifted from danger by the

california highway patrol just south in salinas. so far they have helped more than 2,000 people evacuate the water. >> the water is unsafe to drink so you don't have drinking water people can't survive without clean drinking water. so staying put does you no good, does your family no good puts everybody in danger >> reporter: the breach now 150 feet wide, too big to drop sand bags from the air and conditions are too dangerous to inspect the levee on the ground as evacuations continue some are staying put hoping the water doesn't continue to rise. >> me and my family decided to stay at the last minute. if we lose power, that's when we ch we will choose to leave. >> the people who need to get to that levee breach so they can fix it still likely won't be able to all of this making it even a more dangerous situation for people

who are klochoose to stay there's another dangerous storm heading to the east coast. let's bring in angie lassman. this will be our first nor'easter of the year >> it will, and an impactful one at that. we already see the snow dracped across parts of the northeast. a low develop offshore this is going to bring heavy snow, heavy wet snow and rain. the interior areas of the northeast. that's where the heaviest fh heaviest know will be falling. one to two feet in the higher elevations. as far as winds are concerned, we're dealing with 50-60 mile-per-hour winds. that meeans widespread power outages. there is breaking news tonight about a deadly accident off the coast of san diego. two boats carrying migrants capsized, and

officials are now searching for survivors of what they believe was part after human smuggling operation. jessie kirsch reports. >> reporter: at least eight people are dead in san diego tonight and possibly more than a dozen are unaccounted for after authorities say a pair of suspected smuggling boats capsized some of the victims were p mexicans officials say around midnight, a spanish speaker called 911 >> that person reported that there were approximately 15 people and eight people on two vessels that had overturned. >> reporter: officials say high tide made it harder for lifeguards to reach the victims with low visibility limiting overnight searches by air. eventually, first responders discovering two overturned boats on the beach finding

adult bodies on the beach. with conditions improving today the search expanding >> sadly, this tra continues, has been happening for quite some time. >> reporter: they suspect it was human trafficking, a crime that has skyrocketed in the area with i23 people killed at snea in california since 2021 >> this is not necessarily people trying to find a better life. these people are often sex trafficked new comments from former vice president mike pence about former president trump. he says his boss was reckless and suggesting mr. trump put him and his familiar any danger. >> reporter: in his most blistering criticism yet, former vice president mike pence laid into his

former boss at a washington dinner saturday night for the danger he faced as a result of former president trump's pressure campaign to overturn the 2020 election >> and i hope mike is going to do the right thing. i hope so. >> reporter: president trump was wrong. i had no right to overturn the election, he said. his reckless words endangered my family and everyone at the capitol that day, and i know that history will hold donald trump accountable. the one-time unwavering trump ally not mincing words, but the event did not allow any cameras. pence not so subtly mulling his own bid for the white house as trump plans to make his 2024 iowa debut tomorrow it comes after ron desantis made his own trip to the early caucus caucus >> i'm optimistic that we can see success in

other states >> reporter: mr. trump spending his weekend huddling with lawyers at his mar-a-lago home, preparing for next steps in a manhattan probe inves investigating a 2016 payment made to stormy daniels. cohen set to testify before a grand jury with signs a possible indictment may come soon mr. trump also invited to testify, has denied any wrongdoing meanwhile another expected 2024 contender, president biden, taking criticism from within his own party, amid reports his administration will approve a controversial oil-drilling operation in alaska, marking a potential reversal of a campaign promise not to allow new drilling on federal land. environmentalists now furious, while alaska's lawmakers believe the project will bring new jobs to the region >> the white house is denying any decision has been made about drilling in alaska >> reporter: that's right. the white house says

interior secretary deb haaland will miake an independent decision on the project it's expected in the coming days. still ahead tonight a new warning for spring breakers heading to mexico. should you cancel your trip also the toxic danger now showing up on florida's gulf shores.

there's a new warning tonight about traveling to mexico, and it couldn't come at a worse time it is one of the most

popular destinations for spring breakers, but now officials in texas say recent violence has made mexico much too dangerous. guad venegas has the latest >> reporter: as spring breakers flood popular destinations in mexico >> vacation is beautiful. it's paradise. >> reporter: tonight texas state officials urging residents to avoid travel to the country. the department of public safety saying drug cartel violence and other criminal activity represent a significant threat >> obviously, the border's a very different place than cancun it's much more tourist based, so it feels a lot more homey and safer here. >> reporter: the advisory coming after four americans were kidnapped and two of them killed in mexico. >> mexico, here we come >> reporter: the video showing the group on their journey before the attack. yet, the u.s. department of state's latest

guiden only lists six mexican states under a do-not-travel advisory, destinations like cabo and cancun remain in a level two advisory, urging people to use extreme caution. >> take everything on a case by case basis this is an individual decision that has to be made based on what you learn about the resort area you are going to. stay away from level four state department, do-not-travel states reconsider any travel to the level three category states, from the state department >> reporter: back this texas, the fbi is also investigating the disappearance of three u.s. residents who crossed into mexico three weeks ago and never returned >> they were going toward a flea market to sell some clothing articles >> reporter: yet thousands of americans are expected to arrive at mexican hot spot destinations

and for those that are traveling to mexico, it's recommended to turn on location services on your cell phone. share that with someone in the u.s. and talk to your hotel about airport transfers. now to a growing danger in another spring break hot spot there's been a flare up of toxic red tide along parts of florida's gulf coast the harmful algae blooms are h harmful to health, killing fish and causes breathing and rash issues for beachgoers. there's been a volcano eruption in indonesia. it happened yesterday on the densely-populated island of java you can see the tower of thick smoke and ash. tourism in the area has been halted. residents living in neighborhoods below the volcano had to leave, but so far no deaths have been reported coming up, a new job scam what you need to know before responding to those online help-wanted listings plus the music makers how one young girl's song spread around the world

in the future, everything will be powered by renewable energy. but it's not as easy as flipping a switch. it's a long road, requiring decades of time and trillions of dollars. but what if there was a better direction on the path to zero carbon emissions? an energy source that's available right now, that's affordable, plentiful, and environmentally friendly. there is. and it's propane. get the facts at propane.com/now.

job hunting can be a stressful experience, right? but there's another reason for job seekers to stay on their toes. online job posting scams. nbc's rahaima ellis has the story. >> everything seems like so awesome. >> reporter: 23-year-old callie heim had just graduated from college and was thrilled to land her first job as a social media marketer with a california-based firm, or so she thought. >> it seemed super legitimate they asked for the front and back of my i.d., and i was thinking oh, they just need to identify who i am >> reporter: but then a red flag what made you suspicious >> i needed this computer, phone and printer, and then i would have had to use my own credit card information to buy the equipment, so i would have been out $2500, and they had my banking information now. >> reporter: the stunning realization

posted online and went viral. >> i got scammed by a linkedin job posting >> reporter: she's not alone. in the first three quarters of 2022, the federal trade commission received 70,000 job scams reports, with a loss of $250 million. >> the scammers have become so sophisticated. they will post ads on known sites that look exactly like a real employer's ad. wher . >> reporter: aware of the problem, legitimate job sites are fighting back. indeed said it removes tens of millions of listings each month that do not meet our quality guidelines linkedin says they have introduced new tools. the better business bureau has a running database of all the fake opportunities that have been reported to them we looked at some recent postings. you're saying there are red flags, what are they >> well, the high salary for part-time

work with no experience required. no cv required >> reporter: meaning no resume. >> no resume and fast interview via check. >> reporter: the listings company could not be reached for comment. how can people check to see if a job is legitimate or not? >> the first step is to go to any search engine and type in the name of the job. is this legitimate is this real is it a scam >> reporter: as for callie heim, she finally did get her dream job, and over the internet >> it's exactly what i was looking for, but i just couldn't quite find it at first rar ca when we come back, the musicians worldwide transforming one little girl's sheet music into a surprise global symphony

. there's good news tonight about the moving power of music and the performers world wide who transformed one little girl's sheet music into a global phenomenon ♪ ♪ 10-year-old olive wallace loves music. >> change your bow there. >> the fifth grader from avon grove elementary near philadelphia plays violin, clarinet and sings. she wanted to write some moody music for a virtual world she created, so she wrote a staff and hand-wrote the notes. >> i thought it would and fun surprise if a couple of musicians played it. >> reporter: her mom mimi found it and posted it on tiktok. >> my 10-year-old daughter wrote this. could somebody play this i need to know i need to know if it's

any good or if it makes any sense. >> so i wrote it out >> reporter: the response was overwhelming ♪ ♪ >> reporter: from the piano to the guitar, even the harp. musicians from around the world created and shared their own versions of olive's song seattle pacific university professor was one of them. you see this video on tiktok, right? >> yeah, it just kind of kept coming back in my head, it would be really cool to respond to this. i want to be a part of this conversation. ♪ ♪ >> reporter: hanson happened to be at a conference for music educators and turned olive's melody into a composition for strings. days later, middle school kids performed it for olive, mom mimi

and dad adam, it meant the world. >> they made it sound beautiful. >> they gave it life and really was a huge part of making this go to so many people. >> reporter: the gift of music bringing joy to a new generation. what do you hope happens to your composition? >> i just really hope it inspires more music making, but specifically with music students and public schools i want them to see all students have the opportunity to make music and to share it with other people. >> cheers to them. and olive is hoping that she and her classmates can maybe play her music at their school's year-end concert go olive that is nbc nightly news for this sunday night. lester holt will be in tomorrow with an exclusive, the first u.s. television interview with british

prime minister rishi sunak. stay safe, have a great night. sum right now is 6:00, big developments on big stories. we are still tracking flooding that has shut down the i-80. some good news for driver say. a bank collapsed, the second bank. the new starts right now. let's start with the flooding on 880 near the fremont. after a full freeway closure today. northbound lanes are still