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Three takeaways from the First Republic Bank takeover

Posted on AllSides May 4th, 2023
From The Right

First Republic Bank was seized by state regulators and sold to JPMorgan Chase on Monday after months of struggles, adding to the uncertainty surrounding the financial market.

The takeover of the San Francisco-based bank was made by regulators in California after it was found to be "conducting its business in an unsafe or unsound manner" and "being in a 'condition that … is unsafe or unsound' to transact banking business," the California Department of Financial Protection and Innovation said.

The seizure and sale of the bank is likely to have...

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