Representative Lois Frankel traded stock in First Republic in mid-March after Silicon Valley Bank's collapse, a financial disclosure filing shows.
Representative Lois Frankel recently sold shares of First Republic Bank as well as purchased stock in JP Morgan, which on Monday took over First Republic following its collapse., which will now assume responsibility for its debts and assets, on Monday. Shares in First Republic, a San Francisco-based bank founded in 1985, fell more than 75 percent last week after the bank announced that depositors withdrew $100 billion in March.
Amid these banking troubles, several lawmakers are facing questions about recent stock trades involving First Republic Bank. According to an April 28, 2023, financial disclosure report, Frankel first sold shares of the bank on March 16 following SVB's collapse. Just days later on March 22, Frankel also purchased shares in JP Morgan Chase & Co, according to the report.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JP Morgan to buy First Republic's assets and assume depositsUnited States regulators said on Monday First Republic Bank has been seized and a deal agreed to sell the bank to JPMorgan Chase & Co , in what is the third major U.S. institution to fail in two months.
Read more »
US regulator seizes First Republic Bank, to sell assets to JP MorganJPMorgan bank was one of several interested buyers including PNC Financial Services Group, and Citizens Financial Group Inc, which submitted final bids on Sunday in an auction being run by U.S. reg…
Read more »
JP Morgan taking over First Republic after its collapseFirst Republic Bank’s 84 offices in eight states will reopen as branches of JPMorgan Chase Bank, National Association, during business hours Monday.
Read more »
First Republic Bank fails, acquired by JP MorganFirst Republic Bank was taken over by California financial regulators and sold to the Wall Street giant as another Bay Area bank failed.
Read more »
U.S. stock futures steady after First Republic Bank becomes fourth U.S. lender to fail this yearU.S. stock futures were steady on Monday after the fourth U.S. bank failure of the year, which was announced along with a simultaneous takeover by JPMorgan...
Read more »