First Republic Bank will be placed under the receivership of the U.S. Federal Deposit Insurance Corporation imminently, according to a Reuters report.
Reuters reported that the FDIC has decided that the regional bank's position has deteriorated, leaving no more time to go after a private sector rescue, a source told the outlet.
LiveNOW's Andrew Craft spoke with Adam Kobeissi, editor-in-chief of thekobeissiletter.com, about First Republic's woes and what it means for people who bank there.
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Reuters reported that the FDIC has decided that the regional bank's position has deteriorated, leaving no more time to go after a private sector rescue, a source told the outlet.
LiveNOW's Andrew Craft spoke with Adam Kobeissi, editor-in-chief of thekobeissiletter.com, about First Republic's woes and what it means for people who bank there.
More LiveNOW from FOX streaming video
Subscribe to LiveNOW from FOX! https://www.youtube.com/livenowfox?sub_confirmation=1
Where to watch LiveNOW from FOX: https://www.livenowfox.com/
Follow us @LiveNOWFOX on Twitter: https://twitter.com/livenowfox
Raw and unfiltered. Watch a non-stop stream of breaking news, live events and stories across the nation. Limited commentary. No opinion. Experience LiveNOW from FOX.
