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On one level, the failed bank's narrative mirrors the interest rate misplay and depositor panic at Bay Area neighbor Silicon Valley Bank. But it's also a deeply personal story about Herbert, who founded First Republic in the 1980s, championed its aggressive growth and failed in a last-ditch attempt to engineer a private-sector rescue.
May 3
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Kaua'i Federal Credit Union in Lihue is launching an "economic resiliency center" for members in the Kapa'a community. It hopes to support minority-owned businesses throughout the area by providing access to housing resources and other funding.
May 3
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The regional bank's stock tumbled yet again on word that it has been considering a breakup or a capital raise and is open to a sale.
May 3
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The Federal Reserve chair said he holds himself accountable for ensuring proper regulatory and supervisory changes are enacted in response to recent bank failures.
May 3
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Fraudsters continue to impersonate owners of small and midsize businesses at a rate comparable to the early days of the pandemic. Many lenders can take simple steps to mitigate it.
May 3
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Ninety-eight percent of owners reported that they had not changed their business's primary financial institution in the last month, according to a National Federation of Independent Business survey out Wednesday.
May 3
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Ajay Banga's election will give the Biden administration a chance to evolve the anti-poverty lender toward a greater focus on climate change.
May 3
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The Federal Deposit Insurance Corp. failed to create a level playing field for nonbank bidders pursuing First Republic Bank, according to FDIC board member Jonathan McKernan.
May 3
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Goldman Sachs Group is in talks to settle a high-profile lawsuit alleging gender pay disparity, ahead of going to trial next month, according to people with knowledge of the matter.
May 3
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Sens. Elizabeth Warren, D-Mass., and John Kennedy, R-La., will examine the role of the Federal Reserve in bank failures in a hearing scheduled for May 10.
May 3
