First Republic Bank seized, sold in fire sale to JPMorgan
People walk past a First Republic Bank in New York, Monday, May 1, 2023. Regulators seized the troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to stop further banking turmoil that has dominated the first half of this year. (AP Photo/Stefan Jeremiah)
NEW YORK (AP) — Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to end the turmoil that has raised questions about the health of the U...
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