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www.housingwire.com
2 weeks ago
Business

Republic First Bank closes, sells to FultonBank

Fulton Bank is assuming deposits and assets of Republic First Bank after its collapse due to failure to raise capital and exit from mortgage lending.
The FDIC estimates the failure of Republic Bank will cost $667 million, with Fulton Bank acquiring $6 billion in assets, including an investment portfolio and loans.
Republic Bank specialized in jumbo mortgage products, but its mortgage production was significantly lower compared to Fulton Bank. [ more ]
ABC7 San Francisco
2 weeks ago
Business

Regulators close Republic First Bank, marking first US bank failure this year

Regulators closed Republic First Bank with $6 billion assets and $4 billion deposits, impacting FDIC fund by $667 million, amidst challenges from rising interest rates and real estate devaluation. [ more ]
ABA Journal
3 months ago
Law

Former FDIC lawyer who once worked in BigLaw pleads guilty in child-exploitation case

A former lawyer at the Federal Deposit Insurance Corp. (FDIC) has pleaded guilty to charges related to child exploitation.
The lawyer participated in online groups that sought to find prepubescent girls and convince them to engage in sexually explicit activities, and then shared the videos with each other. [ more ]
Above the Law
3 months ago
Law

Senior Government Attorney Pleads Guilty To Child Pornography Charge

Senior FDIC attorney pleads guilty to child pornography charges.
Black induced a minor to engage in sexually explicit acts and recorded them. [ more ]
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