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U.S. regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers. The Philadelphia-based bank, which had abandoned funding talks with a group of investors, was seized by the Pennsylvania Department of Banking and Securities. The FDIC, appointed as a receiver, said Fulton Bank, a unit of Fulton Financial Corp, will assume substantially all deposits and purchase all the assets of Republic Bank to "protect depositors". Republic Bank had about $6 billion in total assets...

US regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp. said Friday, underscoring the challenges facing regional banks a year after the collapse of three peers. The Philadelphia-based bank, which had abandoned funding talks with a group of investors, was seized by the Pennsylvania Department of Banking and Securities. The FDIC, appointed as a receiver, said Fulton Bank, a unit of Fulton Financial, will assume substantially all deposits and purchase all the assets of Republic Bank to “protect depositors.” Republic Bank had about $6 billion in total assets and $4...

John Eastman, once an attorney for former President Donald Trump, was de-banked twice in the span of several months by two prominent financial institutions, Bank of America and USAA, he told the Daily Caller. His accounts were closed as he faced substantial backlash for his work advising Trump around the time of the 2020 election.

-A year after Silicon Valley Bank's failure, less than half of U.S. banks have established borrowing capacity by pledging collateral at the Federal Reserve's emergency lending facility, according to Fed data released on Friday. That's despite a crescendo of calls from financial regulators for banks to make sure they can access the Fed's discount window quickly if trouble arises. But the data also showed some real progress, with an increase in the number of banks signing up and a jump in the amount of total collateral pledged. SVB's inability to access the window in March of last year in the...

“Banking is slightly illegal,” says world-renowned economist Richard Werner, who is leading the charge against CBDCs. In this episode of "The Glenn Beck Podcast," Richard teaches Glenn that “banks don’t take deposits, and banks don’t lend money.” That begs the question, “What do banks actually do?” This discussion may make you realize that all you think you know about money is wrong. That’s not all we don’t know about the economy. We also have no clue which banks make up the Federal Reserve, who created Bitcoin, or the real relationship between inflation and interest rates. But we do know that...

If you plan to deposit $10,000 or more into your checking account, there are a few things you should consider first. By law, banks have to report deposits that exceed a certain amount. Not only that, but many bank accounts come with maximum deposit restrictions. You may also be subject to certain fees when making such a large deposit. If you frequently make large deposits, you should also watch out for any potential scams or fraudulent activity. But even if this is a one-time thing, it’s still important to know about these factors and how they might affect you. Banks...

A long-promised revolution in banking is headed to Canada, but you might not notice when it arrives, was the sinister headline to a recent The Canadian Press article.The change that is in the works is something called “open banking” and the Canadian federal government has promised framework legislation in next month’s budget to bring the system to Canada.Under open banking, banks allow access and control of customers’ personal and financial data to third-party service providers.One of the biggest areas of growth is in credit assessments, The Canadian Press reported. “Under open banking, lenders could directly access an individual’s banking data,...

Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system.. The move, which would be one of the most significant yet for the nascent CBDC ecosystem given SWIFT's key role in global banking, is likely to be fine-tuned to when the first major ones are launched. 90% of the world's central banks are now exploring digital versions of their currencies. Most don't want to be left behind by bitcoin and other cryptocurrencies, but are grappling with...

Australians made $746 million in digital payments in 2018—that number soared to $93 billion in 2022.. A new all-in-one mobile app will offer what its developers claim is Australia’s first end-to-end digital banking platform for the country’s 2.4 million businesses with fewer than 10 employees. The announcement comes a day after Bankwest announced that it is closing 45 of its branches and transitioning the remaining 15 to Commonwealth Bank of Australia (CBA) branches, going digital-only by October 2024. Bankwest is a subsidiary of the Commonwealth Bank, which trades on the Australian Stock Exchange. ... The new app, called Business+, was...

In a major push to seize control of the public’s financial freedom, Canada is radicalizing its banking system by linking citizens’ bank accounts to a tyrannical social credit score.The Canadian banking system will soon be transformed by a so-called “open banking” framework.Proponents are framing this as a more “inclusive” way for banks to easily share information and access user data.However, the move will merge social standings with banking to provide governments and unelected bureaucrats with complete control over our finances.The organization Open Banking Excellence (OBE), a World Bank partner that originated in the UK, boasts that it will incorporate social...

Not even clear that reams of Jan. 6 bank customer information was useful to Treasury and FBI, hearing witnesses say. Jordan Peterson warns China model is coming. Congressional Democrats are so concerned about losing statutory workarounds for the Fourth Amendment that they appear willing to tolerate red states using financial transactions to track women who have abortions, a major concern after the Supreme Court struck down federal abortion rights. That's the impression from hearing Thursday of the House Judiciary Committee's Weaponization of the Federal Government Subcommittee on alleged collusion between the federal government and banks for politically motivated surveillance in...

16 Republican AGs seek answers from Wells Fargo CEO Charles Scharf... ... debanking ... Wells Fargo is pushing the Biden administration's anti-gun and anti-traditional energy policies and discriminating against customers who don't fall in line with their political beliefs," Montana Attorney General Austin Knudsen... As attorney general, it's my job to protect Montanans from discriminatory business practices. I will continue to investigate and fight against any illegal actions that could impact Montana businesses and consumers." ... Wells Fargo unexpectedly closed the business and personal accounts of Bradon Wexler, the owner of Florida-based firearms dealer Wex Gunworks, with a vague explanation...

Citigroup CEO Jane Fraser got a 6% pay bump for her performance in 2023, a year the bank's profits dropped 38% and Fraser began a dramatic restructuring that will result in an estimated 20,000 job cuts. The board awarded her total compensation of $26 million, ... The $26 million for Fraser was the lowest among CEO rivals at JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley, who received between $29 million and $37 million. Bank of America's Brian Moynihan was the only CEO among this group to experience a compensation decline. ... Fraser had a lot...

The Biden Administration has admitted to surveilling the private financial transactions of Americans for words including 'MAGA', 'Trump' and 'Kamala' following the January 6 riots. Federal investigators in the Treasury's Financial Crimes Enforcement Network (FinCEN) instructed banks to comb through records to look for 'extremists'. A letter from the Treasury Department, seen by Fox News, was sent to Senator Tim Scott on Friday which states 'Exchange events' began 'shortly after January 6 under the prior Administration'. It said it 'included terms such as "antifa," "MAGA," "Trump," "Biden," "Kamala," "Schumer," and "Pelosi."' The federal government was specifically 'watching' Trump supporters and...

Banks are shutting hundreds of branches a year - this month some 41 closures were announced in a single week and among those affected were nine US Bank locations. Bank of America, Chase, PNC, Citizen, Capital One, First National Bank of Pennsylvania and Huntington also said they were axing branches. Such closures deal a huge blow to customers looking to visit in person to submit a document, make a withdrawal or deposit, cash in a check or simply run through their finances with a trusted bank manager. Others, particularly the elderly, may struggle with accessing banking services online due to...

The recently-retired banking oracle - who forecast the 2008 housing crisis - made the dramatic prediction this week.. Bove, 83, claimed other analysts won't make the same admission because they're 'monks praying to money' who rely on the mainstream financial system.. It comes despite the collapse of its property sector, which accounts for roughly a quarter of the country's economy, and US growth ... China will soon overtake the American economy and the US dollar will catastrophically collapse, according to famed financial analyst Richard X Bove. In a characteristically histrionic forecast, the recently-retired 83-year-old banking oracle has announced that 'the...

I have always used Brave browser to do my online banking. Now, when I try to log in using Brave, all my login attempts are rejected and I have to resort to using Safari, which works. I tried to contact Support at Brave, but they have their website so obfuscated as to make it impossible to ask for support (which I'm sure is their intent). Has anyone experienced a similar problem, that Brave is now messing up logging in to a particular website that always used to work?

It may not seem unusual that a corporate CEO would want to focus on increasing shareholder value, but in October this was treated as big news. A Financial Times headline announced that "Unilever's new chief says corporate purpose can be 'unwelcome distraction.'" That new CEO, Hein Schumacher, went on to explain that he rejected the idea that "every brand should have a social or environmental purpose." He intended, he said, to build a "performance culture" instead. Why would it be newsworthy for a CEO to be focused on corporate performance? Not long ago, that was simply assumed. What changed? The...

"China's state-owned banks are tightening curbs on funding to Russian clients as they fear being subjected to secondary sanctions from the U.S., according to a Tuesday report by Bloomberg... "...Chris Weafer, chief executive officer of strategic consultants Macro-Advisory Ltd., which focuses on Russia and the Eurasia region, previously told Newsweek that Russia should be wary of this increased reliance on China. "While China is eagerly buying energy and materials and selling Chinese-made goods to the Russia market, all of which suits Beijing, there is very little investment coming into Russia, certainly nothing like enough to replace the lost investment from...

Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank’s reorganization came in far higher than recently disclosed. The bank said its fourth-quarter results, scheduled to be released Friday morning, were impacted by $880 million in currency conversion losses from the peso and $780 million in restructuring charges tied to CEO Jane Fraser’s corporate simplification project. Those charges are significantly larger than the “couple hundred million dollars” apiece that CFO Mark Mason told investors to expect at a Dec. 6 conference hosted by Goldman Sachs. ... They gave guidance just...