Four senators yesterday re-introduced what they called the “21st Century Glass-Steagall Act,” a bill that would reintroduce barriers between commercial and investment banking. The bill, sponsored by Sens. Elizabeth Warren (D-Mass.), John McCain (R-Ariz.), Maria Cantwell (D-Wash.) and Angus King (I-Maine), would prohibit FDIC-insured depository institutions from engaging in insurance, securities or swaps activity or to be affiliated with any such entity.
Republic First Bank closed in Pennsylvania
State regulators closed Republic First Bank, doing business under the Republic Bank brand, in Philadelphia, and appointed the FDIC as...