First Republic Becomes Second-Largest Bank to Fail in US History

By Democracy Now

HAVANA TIMES – JPMorgan Chase is buying First Republic Bank’s deposits and most of its assets after the bank was taken over by California’s financial regulator. It’s the third U.S. bank failure since March and the second largest in U.S. history. First Republic lost $100 billion in deposits during a bank run in March that followed the collapse of Silicon Valley Bank. Three of the four largest U.S. bank failures have happened over the past two months.

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