Investing
Ex-First Republic CEO says regulators did not express concerns, blames contagion for bank’s collapse
© Reuters. FILE PHOTO: A First Republic Bank branch is seen in New York City, U.S., April 28, 2023. REUTERS/Shannon Stapleton/File Photo
(Reuters) – The former chief executive of the First Republic Bank (OTC:) Michael Roffler blamed contagion spread from the failures of regional banks for the bank’s collapse and said regulators did not express concerns regarding the bank’s strategy, liquidity, or management performance.
A total of over $100 billion in deposits were withdrawn from the bank over the course of weeks in response to industry-wide panic about the soundness of regional banks, Roffler said in his testimony to Senate Banking Committee.
Read the full article here
How Meta Generated $32 Billion in Ad Revenue Last Quarter
Meta Is Laying Off 5% of Its Workforce: Read the Memo
Think Copying Big Brands Will Bring You Success? Think Again
The $100-Million Habit That Leads to Extraordinary Success
US stocks reverse gains despite softer inflation data; Trump tariffs eyed By Investing.com
Microsoft Is About to Begin Job Cuts. Here’s Why.
10 Critical Questions to Ask Your Financial Advisor Now
10 Ways to Make Money As a Graphic Designer
If you are 60 years old, new 401(k) rules could save you money
What CMOs Need to Know About AI Adoption in Marketing Teams
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Side Hustles7 days agoMicrosoft Is About to Begin Job Cuts. Here’s Why.
-
Make Money6 days ago10 Critical Questions to Ask Your Financial Advisor Now
-
Make Money5 days ago10 Ways to Make Money As a Graphic Designer
-
Personal Finance4 days agoIf you are 60 years old, new 401(k) rules could save you money
-
Investing7 days agoWhat CMOs Need to Know About AI Adoption in Marketing Teams
-
Investing5 days agoCould Easier Cancellations Build Customer Loyalty?
-
Investing6 days agoAirbus keeps top spot with 766 jet deliveries in 2024 By Reuters
-
Side Hustles7 days agoJPMorgan to Implement a Five-Day Return-to-Office Mandate