News with the tag "first republic bank"

In the wake of a turbulent period for U.S. banks, the Pennsylvania Department of Banking and Securities has shut down Philadelphia-based Republic First Bank, also known as Republic Bank. The Federal Deposit Insurance Corporation (FDIC) has stepped in as receiver, with Fulton Bank assuming nearly all...

The financial landscape faced another jolt this year when First Republic Bank teetered on the brink of collapse. But as fingers are pointed and accountability sought, the Federal Deposit Insurance Corporation (FDIC) admits its role in the debacle. A Missed Beat in Regulation California’s gem, First ...

Bitcoin endured a small dip in early May after it was revealed the drama surrounding First Republic Bank reached a new peak. Right now, the sentiment is that the bank could be the final monetary institution that crashes and burns following a long streak of banks that did the same. The streak include...

Bitcoin rose eight percent in late April after First Republic Bank fell under a negative light, and many analysts believed it would be next to collapse. Bitcoin Spikes Following More Issues with Banks Bitcoin had fallen into the high $20,000 range prior, a near $3,000 dip from the $30K, ten-month hi...

In a recent press release from the U.S. Federal Reserve Board of Governors, it was disclosed that Silvergate Bank has been given a ten-day deadline to submit a plan outlining its self-liquidation procedure and the systematic cessation of operations. This order from the central bank comes in the wake...

In an unexpected turn of events, the former CEO of First Republic Bank, Michael Roffler, attributed the bank’s unprecedented downfall to the ripple effects of the collapse of other regional banks. Testifying before the Senate Banking Committee on Wednesday, Roffler painted a picture of a financial i...

JPMorgan CEO says the Fed should be less focused on adding more rules and regulations for banks and more on fixing the banking crisis.

Michael Saylor, the co-founder and executive chairman of MicroStrategy, has shared his thoughts on the banking sector turmoil. In an interview with Valuetainment, Saylor said it’s a mistake to store money in banks today, noting that the banks “are stealing” from their clients. Saylor, whose MicroStr...

Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden administration in ...

After the second largest bank failure in history, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating First Republic Bank executives for allegedly engaging in insider trading. Two sources have claimed that the securities regulator is scrutinizing the bank’s executives for m...