May 1, 2023

How the latest bank failure reshaped the financial industry overnight

Michael M. Santiago/Getty Images

The embattled First Republic Bank, one of the institutions caught in the wake of Silicon Valley Bank's collapse, was acquired overnight by federal regulators and sold to JPMorgan Chase. It's a massive, multi-billion dollar deal that makes America's largest bank even larger. Erik Gordon, professor at the University of Michigan, explains what the collapse says about the financial industry. Plus, we look at how the construction industry is dealing with an ever-present shortage of workers.

Segments From this episode

Banks in Turmoil

By acquiring First Republic, JPMorgan becomes "too big to be too-big-to-fail"

by David Brancaccio , Ariana Rosas , Alex Schroeder and Jarrett Dang

May 1, 2023

The reverberations of the Silicon Valley Bank collapse have taken down First Republic. What's next for the financial industry?

JPMorgan Chase's acquisition of First Republic further consolidates the industry in the country's largest bank, says the University of Michigan's Erik Gordon.

Johannes Eisele/AFP via Getty Images

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The team

David Brancaccio Host

Leanna Byrne Host, BBC

Kelly Silvera Executive Producer

Meredith Garretson Morbey Senior Producer

Alex Schroeder Producer

Erika Soderstrom Producer

Ariana Rosas Producer

Jarrett Dang Digital Producer (gone fishing)

Jesson Duller Media Producer

Brian Allison Technical Director

Nick Esposito Media Producer

James Graham Producer, BBC

Jo Critcher Producer, BBC

Olie D'Albertanson Producer, BBC

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