First Republic Bank Gets New Owner

2023 • 1min • News • Business


Published On: May 01, 2023 - JPMorgan Chase Bank will buy First Republic Bank after it was taken over by regulators, making the troubled regional lender the third major US institution to fail since March this year after the collapse of Silicon Valley Bank (SVB) and Signature Bank. This after large banks poured in $30 billion to rescue First Republic Bank that later saw withdrawals of over $100 billion. Watch to know more about this big development.