The Federal Deposit Insurance Corp. just sent out notice that Republic Bank & Trust Co. will have to pay a $900,000 penalty related to its showdown with the Feds over tax refund anticipation loans. And this is pain that will come directly from the pockets of investors. The short but bitter, 3-page FDIC Consent Order, [...]
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FDIC: Republic Bank acquires assets of Tennessee Commerce Bank in failed-bank matchup
The federal government giveth, and the feds taketh away. But usually not in the same 24-hour period. We got a shocker of a heads up this afternoon that Republic Bank & Trust Co. would be acquiring a Tennessee bank, Tennesee Commerce Bank, in swanky Franklin, Tenn., outside Nashville. Since the largest Louisville-based bank isn’t chartered in [...]
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