Date: 2023-05-01T14:37:09Z Creator: Bitfolio Academy
The banking crisis continues to escalate with the fall of another regional bank. JP Morgan is already too big to fail with over 14 percent of US bank deposits. But, it has been given the green light by regulators to add another 100 billion in First Republic Bank deposits to its portfolio. Despite the 1994 US banking law, the Riegle-Neal Interstate Banking Act, stating that no one bank can own more than 10% of US deposits, the behemoth JP Morgan continues to expand its reach. The question remains: how large will the regulators allow JP Morgan to grow? With this acquisition, are more bank failures on the way?
Let me know in the comments. 🤔\
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