First Republic Bank shares plunge as rescue hopes falter
CBSN
Shares of First Republic Bank cratered on Friday following a report that it is likely to be seized by federal financial regulators, putting it in jeopardy of being the third bank to collapse since.
The Federal Deposit Insurance Corporation is likely to take over the ailing regional bank, CNBC reported, noting that hopes are fading that other lenders could step in to rescue First Republic.
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