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Bitcoin.com
2023-04-29 14:00:40

First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles

First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles

According to multiple reports, First Republic Bank is facing significant financial difficulties and could be taken over by the Federal Deposit Insurance Corporation (FDIC) if private sector banks do not intervene. The FDIC has reportedly approached several large commercial banks regarding purchasing First Republic after the bank’s stocks dropped more than 50% on Friday. FDIC

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