By Aaron Nicodemus2023-05-01T15:51:00
San Francisco-based First Republic Bank was closed by state and federal banking regulators over the weekend, then sold to JPMorgan Chase Bank.
First Republic, with $229 billion in total assets and $104 billion in total deposits as of April 13, is the second-largest U.S. bank ever to fail. Only Washington Mutual, which collapsed during the 2008 financial crisis, was larger.
The California Department of Financial Protection and Innovation announced Monday it had taken possession of the bank and placed the Federal Deposit Insurance Corporation (FDIC) as the receiver. The FDIC then announced the sale of First Republic to JPMorgan, which will be “assuming all of the deposits” and “substantially all of First Republic Bank’s assets.”
2023-09-11T16:35:00Z By Kyle Brasseur
Loss of confidence following the March collapses of Silicon Valley Bank and Signature Bank was the primary reason First Republic Bank failed in May, according to an internal review conducted by the Federal Deposit Insurance Corporation.
2023-05-12T16:58:00Z By Aaron Nicodemus
The Federal Deposit Insurance Corporation issued a notice of proposed rulemaking regarding a special assessment on large banks to recover approximately $15.8 billion in losses attributable to the failures of Silicon Valley Bank and Signature Bank.
2023-04-28T21:04:00Z By Aaron Nicodemus
The Federal Reserve Board will likely recommend strengthening regulatory and supervisory procedures for mid-sized regional banks in the aftermath of the failure of Silicon Valley Bank.
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New regulations, changing consumer demands, and global supply chain disruptions – from cost-of-goods inflation to tariffs to raw material shortages, and more – are just a few top challenges reshaping the operations of food and beverage industry today. “These challenges are no longer just logistical—they implicate sourcing risk, contract performance, ...
2025-09-17T19:03:00Z By Ruth Prickett
More than half of all compliance teams are “actively using” or “piloting” AI applications, according to a Moody’s report. While most are focusing on streamlining routine tasks, some are developing AI agents and asking vital questions about AI decision-making.
2025-08-06T14:00:00Z By Aaron Nicodemus
The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
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