21 May 2024
Republic First Bank Fails in Biggest Bust Since 2023 Turmoil
Republic Bank's failure in 2024 followed closely on the heels of the bank failures of Silicon Valley and First Republic Bank in 2023. Recent legislation (proposed and final) seek to address risks related to elevated interest rates, management, credit, and liquidity struggles. For an in-depth analysis of the ongoing challenges confronting the organization and the banking industry as a whole, refer to this Law360 article.
Related Content
- Federal Deposit Insurance Corporation's Role after Failure of an Insured Depository Institution
Read this practice note, written by Elizabeth A. Khalil, CIBC Bank USA, for a comprehensive discussion of the Federal Deposit Insurance Corporation's (FDIC) role in the event there is a failure of an insured depository institution.
- Federal Deposit Insurance Corporation
Explore the role of the FDIC and its main functions in the U.S. financial regulatory system. This practice note, also by Elizabeth A. Khalil, CIBC Bank USA, provides an overview of the FDIC and its role as an insurer of deposits for banks and savings associations, as examiner and supervisor of state-chartered institutions that are not members of the Federal Reserve System, and its role in managing receiverships of failed insured institutions.
- Navigating a Failed Bank Receivership
Learn about the insolvency regime under federal banking law that enables the FDIC to serve as receiver for a failed insured depository institution. This practice note sets forth various requirements that govern the FDIC’s conduct, activities, and operations in connection with any failed bank.
Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.
- Trends & Insights provides the latest in news articles and insight documents on trending areas for financial service organizations, including SVB Financial Group Bankruptcy: Client Alert Digest and Silicon Valley Bank Failure – Key Questions and Considerations.
- Bank Failure Resource Kit and In-House Banking and Financial Services Resource Kit provide links to practice notes, checklists, articles, and guidance on key issues, laws, and regulations applicable to in-house lawyers and counsel.
- State Law Comparison Tool—Topic: Mortgage Servicing Fees provides guidance on permissible mortgage servicing fees for institutions located in various states. It answers questions and provides key information on statutory fees for mortgage servicers and the necessary consumer fee disclosures.
- For related Practical Guidance content on important recent trends, please review these easy-to-use Resource Kits on a variety of emerging topics:
- Explore the Practical Guidance Journal Spring 2024 Edition, featuring guidance on protecting attorney-client privilege and work product in a generative AI world, using AI to manage the attorney client relationship, an overview of privacy regulations in the United States, and a primer on the new Corporate Transparency Act requirements.
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