On Friday, the Federal Deposit Insurance Corporation (FDIC) announced that it will be placing First Republic Bank under receivership making this the third bank collapse in the past two months under President Joe Biden’s watch.

The FDIC’s protections will ensure deposits in the bank up to $250,000, however, that didn’t stop many businesses and individuals with holdings in the bank to take their funds out before the collapse.

https://dcenquirer.com/breaking-another-bank-collapses-under-bidens-watch-third-in-two-months