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 … Read more
A Swiss flag is pictured above a logo of Swiss bank Credit Suisse in Bern, Switzerland. | Photo Credit: REUTERS A year after the banking crisis that felled Credit Suisse, authorities are still considering how to fix lenders’ vulnerabilities – including in Switzerland, where the bank’s takeover by rival UBS created a behemoth. The Swiss … Read more
Low unemployment streak extends another month Low unemployment streak extends another month 02:47 Citigroup is planning to lay off 20,000 employees, or about 10% of its workforce, in the next two years as it comes off its worst quarterly financial results in more than a decade. The embattled bank on Friday reported $1.8 billion in … Read more
