Business - KSYL-AM
Justin Sullivan/Getty Images(NEW YORK) -- First Republic Bank has become the third bank to fail in recent months and the giant JPMorgan Chase will assume all of its assets, according to the Federal Deposit Insurance Corporation. The FDIC said the deal avoids the agency having to use its emergency powers and would minimize disruptions for customers. It comes in the wake of the failure of Silicon Valley Bank and Signature Bank shortly thereafter. Under the deal JPMorgan Chase is set to take on “...
Jonathan Mckernan Justin Sullivan Getty National Association First Republic Bank Silicon Valley Bank Jpmorgan Chase Bank
Source: ksyl.com