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Briefing

Regulators Seize First Republic Bank, Sell to JPMorgan Chase

By
Nate Becker
· · Source: The Information

The Federal Deposit Insurance Corp took control of First Republic Bank over the weekend and immediately sold it to JPMorgan Chase, bringing to an end weeks of questions about the fate of the San Francisco bank, the latest casualty of this year’s banking crisis. First Republic has a high level of exposure to the technology industry, and many high-net-worth people in the Valley bank there. Some...

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