Fears of contagion reignited by first US bank failure of 2024
Apr 30, 2024 08:34:22 #
Republic First seizure signals more bank failures to come, expert warns
Republic First Bank, a regional lender based out of Philadelphia, became the first bank failure of 2024 on Friday when it was shut down by Pennsylvania's bank regulator and the Federal Deposit Insurance Corp. (FDIC) seized control of the operation.
The FDIC quickly made a deal for Fulton Bank to buy Republic First's assets, but one expert on financial regulatory reform and bank failures says the collapse could be a harbinger of things to come.
"This bank failure indicates that additional failures will occur and will range between smaller community banks and larger banks," said Joseph Lynyak, a banking attorney at Dorsey & Whitney, regarding the seizure of Republic First by U.S. regulators.
Republic First Bank, a regional lender based out of Philadelphia, became the first bank failure of 2024 on Friday when it was shut down by Pennsylvania's bank regulator and the Federal Deposit Insurance Corp. (FDIC) seized control of the operation.
The FDIC quickly made a deal for Fulton Bank to buy Republic First's assets, but one expert on financial regulatory reform and bank failures says the collapse could be a harbinger of things to come.
"This bank failure indicates that additional failures will occur and will range between smaller community banks and larger banks," said Joseph Lynyak, a banking attorney at Dorsey & Whitney, regarding the seizure of Republic First by U.S. regulators.
Apr 30, 2024 08:46:57 #
Parky60 wrote:
i b Republic First seizure signals more bank fai... (show quote)
Fulton bank isn't much better.
Apr 30, 2024 09:03:53 #
Parky60 wrote:
i b Republic First seizure signals more bank fai... (show quote)
Of course Henny Penny, the sky is falling! The sky is falling!
Check out topic: And some wonder why they are called the fools at fox
Apr 30, 2024 09:19:29 #
JFlorio
Loc: Seminole Florida
Kevyn wrote:
Of course Henny Penny, the sky is falling! The sky is falling!
Hope your looking up when it does lil gal.
Apr 30, 2024 09:23:38 #
JFlorio wrote:
Hope your looking up when it does lil gal.
Yeah, we could file it under D.S.A.F. (did society a favor)
Apr 30, 2024 14:28:30 #
guzzimaestro wrote:
Yeah, we could file it under D.S.A.F. (did society a favor)
Or Dumb Stupid A$$ F**ker.
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