skyler henry joins from washington, d.c. and the question is what is next? >> it's good to see you, amanda and in the next few minutes president biden is expected to address the situation with first republic bank and insisting america's banking system is safe and secure. there is concern that america could be headed toward a recession . >> reporter: in the third bank failure of a year, first republic bank and all deposits have been sold to jpmorgan chase . >> you can relax because you will walk into your brands branch and if you need help, j.p. morgan makes the transaction everything is cool . >> reporter: depositors pulled $100 billion out of the bank in the first months of this year. >> we need to guarantee these deposits . >> reporter: it is expected to cost the fdic about $13 billion . recent bank failures with rising interest rates have made it tough for people to get access to loans and the combination leads some to believe america is headed toward a recession . >> the fed now has the banking industry playing along with them. >> interest rates could fe

. >>> i'm skyler henry. lawyers are at an impact over raising the debt ceiling. >>> we hear from a rising star on the soccer field about to have new heros to follow. how the latest pro team coming to the bay area is inspiring the next generation >>> welcome back, oakland mayor is ready to tackle the budget shortfall. she released her plan to shore up a gaping $360 million hole in the general fund the next two years. let's break it down. $4.2 billion plan would be implemented the next two years including minor cutbacks to the fire department including ending the use of one fire engine of another. there will be fewer sworn officers, 710 compared to 726 in the previous budget. and opal tap i reserve. >>> the money watch report, we begin with san francisco based uber's first quarter earnings reports. results beat analyst expectations. stock is up. revenue was up 29% year over year. in a prepared statement, uber is off to a strong start for the year. >>> where the markets are now. u.s. stocks slid due to first re

i'm skyler henry at the white house with the concerns at the u.s./mexico border and president biden's plan for support. >>> and the warriors, ooh, they lose game one of the western conference semifinals and we take a look back plus how the night was still made special for one very lucky fan. >>> but first, take a look at this. intense hail hit berkeley yesterday and wet athe ntues r fusirst alert te birch. >> all throughout san francisco today, we're only topping out of upper 50s for the day dime highs and pretty chilly for us in the grand scheme of things all throughout the bay area. the wet conditions are going to continue to be the trend for us in the evening hours tonight so keep the umbrella handy even for the friends all the way down into san jose. daytime highs in san jose, topping off in the upper 50s and lower 60s too. so it's been mild and it has been wet for us all throughout the bay. yesterday and yes, even the case this morning too. this is what we were looking at earlier this morning widespread showers definitely impacted that morning

cbs's skyler henry is at the white house with more on what's next. skyler, good evening. >> reporter: hey, jericka. good to see you. well, immigration officials say despite the lack of a spike the border is still seeing historically high migration levels. >> we've been planning for this transition for months and months. >> reporter: homeland security secretary alejandro mayorkas says it's too early to tell whether the numbers at the southern border have peaked. >> the numbers that we have experienced over the past two days are markedly down over what they were prior to the end of title 42. >> reporter: the biden administration says the steps it has taken including restricted asylums that's led to the lower than expected numbers. border patrol is preparing for daily migrant arrivals to increase to 12,000 to 14,000 a day. but the characterization of the situation along the southern border is split along political party lines. >> the president has actually -- has been actively engaged in trying to manage this crisis. >> reporter: some republicans are cri

cbs's skyler henry is at the white house tonight with more on the challenges facing this administration. skyler, good evening. >> reporter: hey, jericka, good evening to you. there is four days left until title 42 ends, and there's new urgency as the biden administratin looks to try to control the growing humanitarian crisis along the u.s.-mexico border that stretches nearly 2,000 miles long. >> we are prepared. >> reporter: homeland security secretary alejandro mayorkas says the biden administration is ready for a massive surge of migrants on the southern border. 1500 active duty troops are expected to start arriving wednesday ahead of an expected influx of 10,000 migrants a day when title 42 ends thursday. >> the deployment of active duty troops is not to do enforcement work, not to interact with the migrants, but to provide other support so that our border patrol agents can be out in the field. >> the biden administration plans to enact a policy that would block most asylum requests if migrants have passed through another country like mexico without applying for protection in that co

skyler henry, cbs news, the white house. >>> breaking news overnight as a strong tornado caused extensive damage in virginia. the city of virginia beach declared a state of emergency after a severe storm and twister moved through the area overnight. officials say between 50 and 100 homes were damaged. the fire department said crews responded to multiple calls of major damage including downed trees, roof collapses, and gas leaks. there are no immediate reports of injuries, though. >>> meanwhile in florida, a tornado touched down in palm beach gardens saturday. on the left side of your screen you can see the powerful winds flipping a car over. vehicles ended up overturned throughout the area, including some landing on top of one another. the ef2 tornado with winds hitting 130 miles per hour also toppled trees and damaged homes. there were no reports of major injuries or deaths. >>> so we turn now to the violence in sudan where there is some hope for a halt to the ongoing violence. sudan's army and its rival military group say they plan to extend a cease-fire for another three days. now it f

what they did was produce a ransom note. >> that was skyler henry reporting. to "cbs mornings."ll be speaking with republican senator bill cassidy of louisiana. we'll ask him about the debt ceiling and gun violence and reform in america. >>> people in northern missouri are cleaning up after powerful storms this weekend. just take a look at this. baseball-sized hail fell saturday as strong thunderstorms moved across the area. a tornado ripped through the city of trenton about 100 miles north of kansas city. the roofs of several buildings including a church were severely damaged. windows were also blown out of other buildings, but no injuries were reported. >>> and now to ukraine where fighting has intensified. there are growing concerns about the safety of europe's largest nuclear power plant. you can see buses of people moving out of the area. the russian-installed governor of the region where zaporizhzhia plant is located ordered the evacuation of nearly 1,700 people. meanwhile, ukraine has released video claiming it shows russia incendiary weapons in the eastern city of bakhmu

cbs's skyler henry has more on this banking crisis. skyler, what is going on?> reporter: jericka, good to see you. according to media reports, including from "the wall street journal," several of the nation's largest financial institutions submitted their final bids to the fdic to try to buy the troubled first republic bank. now we're learning that announcement of the winning bidder could come as early as tonight. federal regulators are hoping to store confidence in ths.ore the san francisco based first republic bank. it followed the collapse of silicon valley bank in march and a federal reserve review of why it happened. >> this is a huge finding. i mean, this is a bit of a seismic moment. we have found out this week in the fed's own report that these banks are not well regulated. >> reporter: the fed is also tracking new signs of inflation, including stubbornly high prices on food and energy. the board meets wednesday, expected to hike interest rates again to tamp down rising prices. and tomorrow a big change for prospective home buyers who need a government-

cbs's skyler henry is at the white house with more on what's next. yler, good evening. >> reporter: jericka, good to see you. immigration officials say despite the lack of a spike, the border is still seeing historically high migration levels. >> we've been planning for this transition for months and months. >> reporter: homeland security secretary alejandro mayorkas says it's too early to tell whether the numbers at the southern border have peaked. >> the numbers we have experienced over the past two days are markedly down over what they were prior to the end of title 42. >> reporter: the biden administration says it's steps it has taken, including restricting asylums that's led to the lower than expected numbers. border patrol is preparing for daily migrant arrivals to increase from 12,000 to 14,000 a day, but the characterization of the situation along the southern border is split along political party lines. >> the president has been actively engaged in trying to manage this crisis. >> reporter: some republicans are criticizing the narrative and t

cbs's skyler henry is at the white house tonight with more on the challenges facing this administration. good evening. >> good evening to you. well, there is four days left until title 42 ends and there's new urgency as the biden administration looks to try to control the growing humanitarian crisis along the u.s./mexico border that stretches nearly 2,000 miles long. >> we are prepared. >> reporter: homeland security secretary alejandro mayorkas says the biden administration is ready for a surge of migrants on the southern border. active troops are expected to arrive wednesday ahead of an expected influx of migrants when title 42 ends thursday. >> the deployment of active duty troops is not to do enforcement work, not to interact with the migrants, but to provide other support so that our border patrol agents can be out in the field. >> reporter: the biden administration plans to enact a policy that would block most asylum requests if migrants have passed through another country, like mexico, without applying for protection in that country first. arizona senator kyrsten sinema is accusi

skyler henry explains. >> reporter: federal regulators are hoping to restore confidence after a month of financial turmoil at the first this is a hugend allin ree this is a bit of a seismic moment. the banks are not well regulated. >> the fed is tracking new signs of inflation including high prices on food and energy. the board meets on wednesday. expected to hike interest rates again to tamp down rising prices. and, tomorrow, a big change for perspective home buyers who need a government-backed mortgage. a new fee structure that could lower closing costs with borrowers. hiking them for people with stronger scores. on capitol hill, lawmakers are still debating the debt ceiling. the republican-led house passed a bill that will raise the limit by $1.5 trillion. not expected to pass in the democrat controlled senate. republicans hope it will pressure president biden to negotiate with them >> it has beeno since president biden sat down with speaker mccarthy. president biden is not going to. >> he will not be held hostage. he is saying we can discuss it, negotiate but first pay your bills.

am skyler henry.bs news, bay area. >> thank you so much. >>> american households are facing a lot of debt right now. more than $17 trillion. that is a new high according to the federal reserve bank of new york. that pettigrew, nearly $148 billion in the fourth quarter of last year. americans increased that across almost all categories, but the largest are being seen in mortgages, home equity, lines of credit, auto and student loans, and retail. experts say it has a lot to do with inflation. looking at where the markets are now, downright 193 points for the dow. and aaa says gas prices are nearly down one dollar per gallon compared to a year ago. the national price of diesel is also done under $1.57 from last year. that is good news as millions of americans are expected to hit the road for memorial day weekend later this month. >>> oakland dropped $1.28 to $4.82. seven cisco dropped $1.26. san jose saw the biggest difference dropping $1.32. it is now at $4.77. >>> daytime highs are sitting well above a

skyler henry, cbs news, war. >>> and that's the overnight news for this tuesday.now at least the 16th state to ban minors from receiving gender-affirming care. governor kevin stitt has signed a new law making it a felony to provide children treatment like puberty blocking drugs or hormones. >>> hollywood screenwriters are on strike for the first time since 2007. a deal with producers could not be reached before their contract expired last night. the writers guild says picketing will begin this afternoon. >>> and the met gala was held last night. the star-studded event saw some of the biggest names in some of the most lavish outfits. it also featured a surprise pregnancy announcement from tennis superstar serena williams. >>> for more, download the cbs news app on your cell phone or connected tv. i'm shanelle kaul, cbs news, new york. >>> tonight, the deadly dust storm. multiple people are killed and dozens hospitalized after a multi-car pileup that shut down a major interstate. here are tonight's headlines. strong winds make for a dangerous situation in illinois.

skyler henry reports. >> it was a hard decision to give it up. if i only have that much time, i want to spend it with my family. >> reporter: retired marine, roger brennan, had every intentions to still be on active duty. he completed two tours in afghanistan and one in iraq. >> i thought i had a body of steel because i never got injured. but then you get the diagnosis. >> reporter: the 52-year-old medically retired after being diagnosed with the neurodegenerative disease, als. research shows veterans are twice as likely to develop the debilitating condition. >> i'm not giving up, i never will. it is still there in the back of your mind your body is going away and you're losing muscle and you're losing the ability to do things that you love to do. >> reporter: that is why brennan is taking part the dep veterans affairs initiative is to learn more about how genes, lifestyle, and military exposure affect the health of service members. >> to find new cures, new treatments, and diagnostic markers. >> reporter: it's not just als. cancer, diabetes, hea

cbs's skyler henry

skyler henry reports. >> it was a hard decision to give it up.only have that much time, i want to spend it with my family. >> reporter: retired marine roger brennan had every intention to still be on active duty. he completed two tours in afghanistan and one in iraq. >> i had a body of steel because i never was injured but then you get a diagnosis. >> reporter: the 52-year-old medically retired after being diagnosed with the neurodegenerative disease, als. research shows veterans are twice as likely to develop the debilitating condition, compared to those who haven't served. >> i haven't given up, and never will but it is in the back of your mind, that your body is one way and you are losing muscle and using dates that you love to do. >> reporter: that is why he's taking part in the million veteran program, the goal of the department of veterans affairs initiative is to learn more about how genes, lifestyle and military exposure affect the health of servicemembers. >> to find new cures, new treatments and diagnostic markers. >> reporter: and it i

skyler henry reports. >> it was a hard decision to give it up.at much time, i want to spend it with my family. >> reporter: retired marine roger brennan had every intention to still be on active duty. he completed two tours of "tennessean" and one in iraq. >> i had a body of steel because i never got injured, but then you get the diagnoses. took the 52-year-old medically retired after being diagnosed with the neurodegenerative disease, als. research shows veterans are likely to develop the debilitating condition compared to those who have not served. >> i'm not giving up, and never well. but it is still there at the back of your mind. your body is one way and you are losing muscles and losing the ability to do things that you love to do. >> reporter: that is why is taking part in the million veteran program. the goal of the department of veterans affairs initiative is to learn more about how genes, lifestyle, and military exposure affect the health of servicemembers. >> to find new cures, new treatments and diagnostic markers. >> reporter: and it