Category Archives: WMAL News Now

First Republic Bank Seized, Sold in Fire Sale to JPMorgan

First Republic Bank Seized, Sold in Fire Sale to JPMorgan

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.S. banking system.Read more

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Category Archives: WMAL News Now

Biden Declares ‘America will not Default,’ Says he’s Confident of Budget Deal with GOP Lawmakers

Biden Declares ‘America will not Default,’ Says he’s Confident of Budget Deal with GOP Lawmakers

An optimistic President Joe Biden declared Wednesday he is confident the U.S. will avoid an unprecedented and potentially catastrophic debt default, saying talks with congressional Republicans have been productive. He left for a G-7 summit in Japan but planned to return by the weekend in hopes of approving a solid agreement.Continue Reading

First Republic Bank Seized, Sold in Fire Sale to JPMorgan

First Republic Bank Seized, Sold in Fire Sale to JPMorgan

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.S. banking system.Continue Reading

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