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IPFS News Link • Central Banks/Banking

First Republic Bank Down 98% in 49 Days Since Jim Cramer Recommendation

• https://www.nextbigfuture.com by Brian Wang

The U.S. Federal Deposit Insurance Corporation (FDIC) is preparing to place First Republic Bank (FRC.N) under receivership imminently, a person familiar with the matter said on Friday, sending shares of the lender down nearly 50% in extended trading. The U.S. banking regulator decided the troubled regional lender's position has deteriorated and there is no more time to pursue a rescue through the private sector


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