State regulators today closed Republic First Bank, doing business under the Republic Bank brand, in Philadelphia, and appointed the FDIC as receiver. Lancaster, Pennsylvania-based Fulton Bank agreed to assume substantially all of the failed bank’s $4 billion in deposits and to purchase substantially all of its $6 billion in assets. The FDIC estimated that the failure—the first of 2024—will cost the Deposit Insurance Fund $667 million.
ABA questions OCC approval of trust charters for crypto companies
ABA President and CEO Rob Nichols said the OCC's approvals raise important questions about the scope and oversight of the institutions.











