May 30, 2023

Taylor Daily Press

Complete News World

JP Morgan took over the first republic to topple

First Republic, a failed bank, is put into receivership and sold to JP Morgan, America’s largest bank. California regulator DFPI made the announcement on Monday.

The fate of the mid-sized U.S. bank has been hanging in the balance since March after two U.S. banks, Silicon Valley Bank and Signature Bank, went bankrupt earlier this year.

Read more about Silicon Valley Bank here:

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