JPMorgan buys First Republic Bank's assets
Financial News

FDIC Seizes First Republic Bank JPMorgan to Take Control Amidst Regional Bank Crisis

While JPMorgan claims to have saved the day, the acquisition appears to have been solely for their own benefit, with an estimated $5 billion profit over the next five years, while the FDIC is set to cover $13 billion in losses. This acquisition has led to the stock prices of regional banks plunging, with every regional bank stock down today. […]