A group of the nation’s biggest banks swooped in on Thursday afternoon to rescue First Republic Bank with a $30 billion deposit, a move intended to shore up the beleaguered San Francisco lender.
The 11 banks include JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Morgan Stanley, U.S. Bancorp, Truist Financial and PNC.
This show of support by a group of large banks is most welcome, and d…
Read more at foxbusiness.com: First Republic gets $30 billion rescue from biggest US banks