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Fortune
Fortune
Chloe Taylor

Elizabeth Warren says U.S. taxpayers will have to foot the bill if JPMorgan ‘stumbles’ after First Republic buyout

U.S. Sen. Elizabeth Warren questions Jerome Powell, Chairman, Board of Governors of the Federal Reserve System as he testifies before the Senate Banking, Housing, and Urban Affairs Committee on June 22, 2022 in Washington, DC. (Credit: Win McNamee—Getty Images)

The collapse and subsequent rescue of regional bank First Republic mean JPMorgan Chase is now bigger.

Regulators seized First Republic on Monday and sold the majority of its assets to JPMorgan after customers worried about the struggling bank’s financial health withdrew more than $100 billion.

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