JPMorgan Chases Acquires First Republic Bank After Seizure by Regulators
First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in American history, behind only Washington Mutual, which collapsed at the height of the 2008 financial crisis.
Regulators seized troubled First Republic Bank early Monday and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in America.
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