First Republic seized by US regulators ...News

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First Republic seized by US regulators
source : Russia Today ( News ) () 49
The struggling lender will be acquired by JPMorgan, the Californian financial watchdog said The embattled First Republic Bank has been taken over by regulators and will be sold to JPMorgan Chase, the California Department of Financial Protection and Innovation (DFPI) announced on Monday. Earlier this week, the Federal Deposit Insurance Corporation (FDIC), a principal federal regulator of US financial institutions, asked a number of banks to submit bids for the struggling lender in an effort to secure a buyer before it entered receivership. A deadline for bids was set for Sunday. JPMorgan, America’s biggest bank, w

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