May 1, 2023
The U.S. Treasury Department is encouraged that First Republic Bank was resolved with the least cost to the Deposit Insurance Fund, and believes the U.S. banking system remains sound and resilient, a Treasury spokesperson said early Monday. U.S. regulators on …
May 1, 2023
Regulators seized First Republic Bank and sold its assets to JPMorgan Chase & Co. on Monday, in a deal to resolve the largest U.S. bank failure since the 2008 financial crisis and draw a line under a lingering banking turmoil. …
April 25, 2023
First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest rates threatened its business model by prompting an exodus of deposits. The lawsuit filed late Monday in San Francisco federal …
March 31, 2023
Massachusetts regulators have opened an investigation into sales of company stock by top executives at First Republic Bank in the weeks leading up to the recent banking turmoil. Massachusetts’ Secretary of the Commonwealth William Galvin told Reuters his office has …