and republic first bank went bankrupt in the usa. al deposit insurance corporation. assh writes about this. the collapse of the organization continued the series of ruins of american banks, which, it seemed, had been stopped in november last year; at the beginning of the twenty-fourth, the assets of the republic first bank were estimated at 6 billion dollars, 4 billion were in deposits, now all of them transferred to fulton bank, it will now be the responsibility of it to serve the bankrupt’s clients. it was economic news, briefly. copies are not your style, your uniqueness deserves more, choose avita premium, original items from famous brands at attractive prices are waiting for you in the avito application, 100% originals are now more accessible on avita premium. start the path to your dream with sber, open a free business account and connect to the program. maybe a neighbor can get hungry anywhere, only dad will cut it down, eat a beastly appetite, have a snack it doesn’t hurt to have a beastly appetite sausages bap maybe with iota

republic first bank was closed in the usa.us expenses of approximately $667 million. he continued his streak of ruin american banks, which were suspended in november last year. in january, the credit institution's assets were estimated at $6 billion. there were 4 billion in deposits. the federal deposit insurance corporation transferred all these assets and liabilities. it is he who will now be responsible for servicing the clients of republic first bank. at the end of the issue, i will remind you of the exchange rates today: dollar 92 rubles 1 kopeck euro 98.71 for now that’s all for me. we have historically defended our borders, our people and those who need our help. although our enemies they spoke different languages, had different weapons, the goals were always the same. destroy the country, take away our freedom, but we have always bravely stood up in battle. history remembers everything. the strength of the unity of the people and the courage of the troops helped us win. become a hero bringing victory closer. serve unde

since last year and the first of this year fulton bank is assuming the $4 billion in deposits and $6 billion in assets. that is smaller than $229 billion in assets once held by republic first at the time of its failure. pennsylvania based fulton bank add $28 billion in assets and 200 locations in pennsylvania and new jersey and delaware and maryland the deal doubles the size of the market and keeping assets below $50 billion. >>> tesla clearing two regulatory hurdles when it comes to launching the self-driving tech in china. ceiling a deal with baidu for mapping and navigation functions and passing a key data privacy requirement by beijing the move comes after elon musk made an unannounced visit to china over the weekend where he met with the country's premier li and discussed everything from u.s. and china trade relations to the competitive ev landscape across china >>> nvidia ceo looking for the potential of artificial intelligence speaking of cbs, he said human jobs will not disappear because of a.i., but it will open new u doors. >> in some areas of drug disc discovery, we need artificial intelligence to explore the universe >> nvidia shares are down about 3% ove

transferred all assets and liabilities to fulton bank, which will now be responsible for servicing republic first bankcks and loans will be available as usual . the japanese currency has fallen to its lowest level in 34 years; it has now crossed the 158 yen per dollar mark. the main reason for the decrease is the difference in the discount rates of japan and the united states; the americans have it. twice as high, which makes it more profitable to invest in assets related to the dollar and euro. market participants are now waiting to see whether japan's central bank will conduct foreign exchange interventions to stabilize the course. previously, the country's finance minister promised to take the necessary measures to combat excessive volatility, but since then the yen has fallen even more in price. and that’s all for now, more news in the next hour. every success begins with a dream, to do something of your own, a desire to stand out, a desire to act and not be distracted by the hustle and bustle. business works to make your cherished dream come true. start the path to your dream. everything with sbe

republic first bank was closed in the usa.d to serious expenses of approximately $667 million. he continued the series of ruin of american banks, which were suspended in november last year. in january , the credit institution's assets were estimated at $6 billion, with $4 billion in deposits. the federal deposit insurance corporation transferred all of these assets and liabilities to fulton bank. it is he who will now be responsible for customer service. the japanese currency has fallen to its lowest level in 34 years; it has now crossed the level of 158 yen per dollar. the main reason for the decrease is the accounting difference. rates in japan and the usa, for americans it is twice as high, because of this it is more profitable to invest in assets related to the dollar and euro. now market participants are waiting to see whether the japanese central bank will conduct currency interventions to stabilize the exchange rate? previously, the country's finance minister promised to take the necessary measures to combat excessive v

it shows you if there is a first republic, don't name your stupid bank republic first. >> you are confused about the name >> a year ago, that was a big deal this is a $3 billion -- this was the only reason we are reporting on it is people were confused of first republic or republic bank. given the shift in the fed and everything else and everybody talking about it >> not this is being suggested yet, but the next move would be a hike and that would be a different scenario for these banks. >> just because this was tiny and not first republic doesn't mean there is nothing to worry about. >> cracks along the way. >>> shares of dutch medical devices giant philips are soaring after the company agreed to a $1.1 billion settlement in the united states for personal injury cases linked to the recall of some of the sleep apnea devices. millions of devices were recalled in 2021 over concerns that some of the components carried cancer risks potentially. philips did not admit fault or liability or any injuries caused by its devices phillips says the test results showed the no reasonable harm to health t

. >>> get a good last look at this and other first republic banks. "san francisco chronicle" reporting that first republic banks will cease to exist next month. last year chase acquired first republic one of three mid-sized bay area banks to fail. chase bank says the remaining 62 first republic branches nationwide will close may 24th. 25 are likely close to where you live this morning. nicole? >>> well, reed, sometimes we get lucky to share in an event that reminds us all where we are in the universe. people traveled far and wide to certain parts of the nation for front row seat to the solar eclipse. its path of totality didn't quite make it here to the bay but we definitely got the partial viewing. oakland's science center knows what it means to witness an eclipse like this. they held a viewing party on the campus for all to enjoy as you can see here. normally quiet on monday mornings, but yesterday, a sold out crowd filled the plaza all to see this breathtaking sight. and there were all sorts of devices to look up safely. like telescopes that remove

first republic collapsed last year, making it the second largest bank failure in us history. maining ten will reopen under the jpmorgan chase brand. >> well, state lawmakers are working to boost downtown areas in california and cities across california still suffering in the post pandemic era. a state committee on downtown recovery met yesterday for the first time. it's chaired by the state assembly member, matt haney of san francisco. the committee aims to create a statewide downtown recovery plan for mayors from long beach, riverside, sacramento and san francisco gave a sobering status update on their city's downtown districts. >> office attendance is at 40% 46% of pre-pandemic levels. as of march. we can no longer rely on five days a week and 9 to 5 employment. remote work has led to a historic office vacancy rate of over 36% in our downtown. >> in the downtown recovery committee will also focus on crime, homelessness, the fentanyl crisis and tourism. the next hearing is scheduled for the second week of may. there are at least three bills being debated in the state legislat

griff: and regulators have closed the troubled philadelphia-based republic first bank underscoring the has essential ly bought its assets and branches will soon reopen as branches of fulton bank. much more ahead as fox news live continues, including an update on the catastrophic tornados that swept through the plains and a threat of more to come. that's next. # hey, that's mine! i'll buy you a pony. advanced hydration isn't just for kids. pedialyte helps you hydrate during recovery. (♪) breathing claritin clear is like... is he? claritin clear? yeah. fast relief of your worst allergy symptoms, like nasal congestion. live claritin clear® i'm jonathan lawson, here to tell you about life insurance through the colonial penn program. if you're age 50 to 85 and looking to buy life insurance on a fixed budget, remember the three p's. what are the three p's? the three p's of life insurance on a fixed budget are price, price, and price. a price you can afford, a price that can't increase, and a price that fits your budget. i'm 54. what's my price? you can get coverage for $9.95 a month. i'm 65

. >> the takeover of first republic bank finishes by the upcoming memorial day weekend. we're told first republic will cease on friday, may 24th. at that time, its clients can access their accounts at any chase bank. first republic collapsed last year, making it the second largest bank failure in u.s. history. the bay area has 25 first republic branches, 15 will close and the remaining ten will reopen under the j.p. morgan chase brand. well, the head of the nation's largest bank warning interest rates could soar to 8% or even higher in a letter to shareholders, jp morgan chase ceo jamie dimon says record high deficit spending and geopolitical stress will make it harder for the fed to fight inflation by traditional means. he says investors started the year predicting that the fed would cut rates up to three times, maybe four. but after a strong jobs report friday, diamond says investors anticipate far fewer cuts. fed chair jay powell acknowledged the dangers of cutting rates too soon. >> if we reduce rates too soon, there's a chance that inflation would pop back and we'd h

. >>> first republic bank will soon be closing its remaining bay area locations. last year, j.p. morgan chase acquired first with public which is one of three banks to fail in 2023. chase said the remaining branches will close on may 24. 25 in the bay area. 10 of the locations will be remodeled or rebranded . the others will shut down entirely. >>> we know the a's are leaving oakland but the future in vegas is not a sure bet . the growing backlash against spending taxpayer money on the new stadium on the strip. >> they are not a major league team. they abandon the city. >>> new concerns about the safety of boeing jets. what an engineer has to say about what was happening on the assembly line. >>> what we are learning about this houseboat you might have noticed floating in the bay. >>> we should know whether there will be a recount in the south a congressional race that is now a tie. today is the deadline to request one. it is the race to replace the congresswoman and asked you. sam mccarter was heading to the contest. the santa clara supervisor and evan low both finished the prima

bank officials say 25 branches in the bay area will close by may 24th. all first republicsor closure are within one mile of a chase bank. >> we could have a decision this week on a possible name change for oakland international airport. the port of oakland, which operates the airport, plans to vote on the issue on thursday. that proposal is set to change the name to san francisco bay. oakland international airport. port officials say the change will put oakland on the map for travelers, but san francisco officials are now threatening to sue over trademark infringement involving sfo's name. >> we've had these trademarks for so long that they're incontestable under federal law, and so from our perspective, if oakland chooses to move forward with its proposal, we will have no choice but to pursue legal action to prevent the misuse of our trademarks by the port of oakland. >> sent us a statement saying the change would clarify, not confuse, and would help identify where the airport is actually located, which is on the san francisco bay. >> did you see it today? what we saw as o

a former banker at first republic bank who helped facilitate the payment from: to daniels.fense team seeking to undercut the testimony of david pecker , the former publisher of the national enquirer, testifying at length about how he helped silence people who could have hurt mr. trump's election chances. esther trumps lawyer sought to raise questions about mr. motive and memory. he said at one point, i been truthful to the best of my recollection. the tablet mogul also burying stories that he wanted to remove those stories to protect his family. instead, pecker said he believed it was all to protect his campaign. >> i do have to begin by wishing milani a happy birthday. she is in order. >> 20 now is barbara mcquaid, and an s nbc legal analyst. she is author of a very important book, attack from within. how does information is sabotaging america. by this book and give it to anyone you know who doesn't believe the news. i want to talk to you first about david pecker. this was very important testimony. it was important to make david pecker the first witness here because it spe

economy remarkably resilient if you think back to one year ago, we had concerns about banking, first republic bank, here we are one year later and the u.s. economy actually is strong so economic gains are one thing, but the other is when you consider what is to be rewarded over three or four years, companies in aia, cybersecurity, internet commerce. seeing more of those in the u.s.. another way to put that is when you look for profitability or quality, you see more of those companies listed in the u.s. so the type of companies that we find in the u.s. are very appealing. annabelle: off of ai and profitability, we have yet to see bottom line returns from ai generated so what is the run or the lead time? russ: it will take years to play out. oh we are not going to realize the full value in one quarter or two. let's look at earnings for tech versus the s&p. tech earnings expected to be around three or 4%. if you focus on the magnificent seven look at those companies, earnings growth for those companies are expected to be around 38 percent. it even though we are not realizing the full potential o

third, we had gary ferro, former manager at first republic bank, which prosecutors say michael: used to obtain a $130,000 home equity loan which michael cohen later funneled to stormy daniels through a shell company. friday, he authenticated bank records which prosecutors showed to jurors. that testimony will continue in trial resumes tuesday morning. prosecutors are using his testimony to authenticate documents related to the transaction. that testimony continues when the trial resumes tuesday morning. judge merchan announced a gag order hearing will take place thursday, to hear new arguments about all of the alleged violations that donald trump has committed this week. leaving off our discussion, we were in the courtroom and will be every day of the trial. a fellow at security and the former supervisor of the prosecutions and civil rights union of the eastern district of new york. good evening. unlike a lot of trump supporters and family, you've been there watching what's going on. tell us what happened. we had interesting testimony. >> we did. the first and foremost thing, we had

first republic bank in the bay area, all the locations will be closing for good as part of a financial takeover by j.p. morgan chase. they'll shut down the banks on may 24th. customers will get an alert that their accounts are converting over to j.p. morgan over memorial day weekend. first republic's downfall began last year after two credit rating agencies downgraded it over concerns the institution loaned out more money than it had. the new j.p. morgan branch headquarters will open on pine street in san francisco this summer. >>> also tonight, a member of san francisco's sheriff's department is facing multiple violent felony charges. 49-year-old deputy sheriff jonathan esperitu was arraigned today in connection to a domestic violence case. his ex-girlfriend reported the alleged abuse earlier this month after finding a tracking device on her car. she claims that esperitu strangled her and later attacked her at work. the charges include domestic violence, battery, and assault. he pleaded not guilty and will be back in court next week. >>> a frustrating weekend of illegal sideshows acro

testimony is likely to continue with gary farrow, an executive for first republic bank. he took the stand saying he helped michael cohen set up a bank account for the shell company used to pay stormy daniels. daniels alleges she had an affair with mr. trump. trump is accused of falsifiying records to cover up that payment. >>> turning to the onslaught of severe weather in the plains and beyond, including 130 tornados that left at least five people dead and a path of sheer destruction. jesse kirsch has more from hard-hit oklahoma. >> reporter: trail of heartbreak runs through the american heartland. >> the whole town is just in shambles. and it's hard. >> reporter: officials say at least five people are dead. after a violent tornado outbreak across multiple states. >> oh, my gosh. >> reporter: sulphur, oklahoma, especially hard hit. the small city's downtown decimated. a woman killed. sulphur's fire chief calls her an a hometown girl. >> i just happen to know her. she's a blessing to everybody, and we're going to miss her. >> reporter: kerry lee was in another neighborhoo

bank accounts. the former banker for michael cohen at first republic. and he is articulating the extent to which there is urgency on michael cohen's part to open up these two accounts. there is the one account particularly in october 26 in which he drew off of michael cohen's own line of credit through his home equity in order to put $131,000 into this new bank account through first republic. at that point in time, the $131,000 was then transferred from michael cohen, from that new account, to an attorney who is representing stormy daniels. it had been indicated, the allegation is, stormy daniels, just two weeks out from the election, was prepared to take her story elsewhere, for alleged affair with donald trump. but then as october began to close, with that message communicated to michael cohen, he turned up the intensity of which he sought to make sure that she was effectively paid, knowing that the "national enquirer" was not going to pay her. and that's when he drew off his own home equity line of credit to put money into this new account set up by

testimony is likely to continue with gary farrow, an executive with first republic bank. he took the stand friday saying he helped michael cohen set up a bank account for the shell company used to pay stormy daniels. daniels alleges she had an affair with mr. trump. trump is accused of falsifying records to cover up that payment. he has denied the claims and any allegations of an affair. >>> meanwhile, there's another hearing on violations of his gag order set for thursday. and we're still waiting for the judge's ruling on the first gag order hearing. >>> here in new york, a monroe county district attorney is apologizing after a body cam incident in which he appears to berate and harass a police officer who had stopped her for speeding. sandra dorley put out a video statement, and here's some of what she had to say. >> if one of my assistant district attorneys had acted this way, i would have disciplined them. so i'm disciplining myself. i will take ethics training to remind myself that professionalism matters. i've been humbled by my own stupidity and i am fully to blame

saw more cracks in the system this weekend when regulators seized a troubled philadelphia bank, first republicd and now we've got feds seizing this bank. is this an indication that we're still in choppy waters with regard to the banking sector? >> i think we could see more chop hpy waters ahead. what's been interesting about the fed and the banking system is how far ahead of the curve they've been this time around. in other words, they're aware of the risk, they're aware of what could happen. they have taken significant policy actions. when you look at silicon valley bank and first republic, they actually got in early, they got in hard. so this is something from a regulatory perspective we're not going to have the kind of problems that we had the last time around. they're prepared for it. now, that said, there's still going to be choppy waters as you said. maria: let's talk earnings. the big stories of the week will be amazon and apple. apple's going to give us a great window into the consumer, into china, into the broad macro story. what are you expecting from amazon and apple, brad? >> i thi

take away from it, during a line of questioning right now they were asked about the first republic e-mail server the bankmichael cohen former banker during the line of questioning trump can be seen leaning over speaking with his attorney within looking at government exhibit 361 it is a first public bank e-mail dated ten, 11, 2016 that was sent from his us assistant the subject of the e-mail was missed a call from michael cohen michael asked for pharaoh to call him back a look at another exhibit 362 that first republic bank e-mail from two days later it was sent to pharaoh from his assistant regarding another missed call from cohen i am getting somewhere i promise pharaoh recalled that the two calls were about, cohen wanted to open a new limited liability company an llc account, cohen had a limited liability company to be an account for real estate do you take anything away from that update from just a moment ago in the courtroom. >> yes, i think what's going on here is there trying to suggest that cohen in conjunction with trump and packer were involved in centrifuge, which is what you would expect in a

this is the bank manager at first republic bank who took the wire payment from michael cohen to stormyeet journal" article from 2018 that flagged that donald trump's lawyers payment to stormy daniels, this $130,000 wire transfer, was reported as suspicious by first republic. so it feels like they are building toward this. why did you think this was a suspicious payment? >> if there was a suspicious activity report, that will be important. they go back to the antimoney laundering unit in the back office, but it's something that goes on a lot of times and customers don't even know it. they find out later on when they get indicted. they don't always. it literally means suspicious activity. activity the bank finds suspicious. so that's an interesting piece of information to me. but it's not something that michael cohen would have even known about if there ever was a sar filed against him. >> the color are from inside the courtroom is this is necessary, but dull testimony to authenticate the documents mangle this prosecution wants to admit as business records. and yet she says the jurors ar

the jury also hearing from gary farro, a former banker at first republic bank who helped facilitate the payment from cohen to daniels, but the day began with the defense team seeking to undercut the testimony of david pecker, the former publisher of "the national enquirer" and a key witness for prosecutors testifying at length about how he helped silence people who could have hurt mr. trump's election chances. mr. trump's lawyer sought to raise questions about pecker's memory and motives on cross-examination. pecker defiant at one point saying, i've been truthful to the best of my recollection. the tabloid mogul also undermining the idea mr. trump wanted to bury those stories about women to protect his family, a common refrain from the defense. instead, pecker said he believed it was all to protect his campaign. >> i do have to begin by wishing melania happy birthday. she's in florida. >> reporter: melania trump notably absent at trial. >> laura, does it appear prosecutors got what they needed from david pecker this week? >> lester, pecker is a useful witness for prosecutors to the exte

the takeover of first republic bank finishes this memorial day weekend. blic will cease on friday, may 24th. at that time, its clients can access their accounts at any chase bank. first republic collapsed last year, making it the second largest bank failure in u.s. history. the bay area has 25 first republic branches, 15 will close, the remaining ten will reopen under the jpmorgan chase brand. google is manufacturing more of its digital chips in an effort to rein in rising costs for artificial intelligence. it's producing more of its own chips means google will not have to rely on outside vendors such as nvidia and intel. google's new chip is called axion. it has immense processing power and can be used in areas ranging from google search engine to ai programs. more help is on the way for low income people trying to feed their family. the pandemic bump is now permanent for people in the program known as wick. in addition to the added money, there are new rules that allow added groceries to the list of approved, including canned fish, fresh herbs and lactos

and 2023, causing it to be delisted last year, the lesson is don't have "republic" in your name or maybe first this is a small bank the scale of first republic or silicon valley. >> not even close. you can see that with the reaction of the kre today, other regional players not moving really on this news. it was widely expected they had a lot of inyo sin crattic issues they had some activist investors, so it's been a tricky name for a while obviously they face some of the same issues we saw last year it doesn't appear to be systemic at this time. >>> good to have you with us today, leslie. >> thank you, tyler. >>> thanks for watching "power lunch," everybody. >> "closing bell" starts right now. >>> leslie, thanks so much welcome to "closing bell." i'm scott wapner this make-or-break hour begin resilient. even as cautious comments begin to flood the street. we'll ask our experts whether that's warranted or not as another big week is about to heat up. in the meantime your chlorocard looks like that, green across the board. apple, an analyst comes of

bank, they did very well. fulton will do the same thing with republic first. there will be some winners in this. here are banks strong enough to absorb some of the losses it's not going to create a crisis but i will have to concede with chris that you can't allow the commercial real estate which is a known problem to be -- to let run out of control because if it does, it will have great, large effects on the economy at large. maria: of course, yes. great point. gentlemen, great conversation, we appreciate your time. jamie cox, thanks for being here. chris, you're with us all morning. we appreciate that. quick break and then anti-israel protests growing on college campuses, so are outside agitators, harvard students are seen flying the palestinian flag where the u.s. flag is supposed to be. congresswoman beth had van dines here with reaction. you're watching "mornings with maria" live on fox business. ♪ everybody put your hands in the air. ♪ yeah, yeah, yeah. ♪ girl i want to -- yeah, yeah, yeah. ♪ i want to see you tonight. ♪ yeah, yeah, yeah. ♪ hi, i'm janice, and i lost 172 pounds on golo. when

. >>> get a good last look at this and other first republic banks. looking live right now is just one of 25 locations in the bay area that will close next month. you know, last year, we know this. jpmorgan chase acquired first republic which was one of three mid-sized banks to fail. the closures are slated for may 24th. that banking giant tells us they'll reopen ten locations in our area but they will be jpmorgan or chase branches. >>> sometimes we get lucky to share in an event that reminds us all where we are in the universe. people traveled far and wide to certain parts of the nation for a front row seat to the solar eclipse. its path of the totality didn't quite make it here to the bay but we have definitely got a partial viewing. oakland's chabot space and science center know what is it means so they held a viewing party for all to enjoy. normally quiet on monday mornings but yesterday, a soldout crowd filled the plaza all to see the breathtaking sight. and there were all sorts of devices to look up safely. like telescopes that remain 99.9% of li

> hello martha, gary farrow just took the stand he's the former senior managing director at first republic bankposition in 2016 this is the bank that michael cohen used to wire the $130,000 to adult film actress stormy daniels to surprise her story about an alleged affair that former president donald trump denies the details of that payment are likely discussed right now in the direct examination, they're just going over his professional background this is just beginning right now for gary farrow the newest witness and rhonda graphed the cross-examination for her already over she was trump's longtime executive assistant there was no redirect examination so after days of david packer test on a rhonda graphed done in less than an hour she testified that she vaguely remembered seeing adult film actress stormy daniels at trump tower before the 26 election she assumed that daniels was there to discuss joining the apprentice and she described her time working for former president trump very positively she said he respected her intelligence and she would not of stayed there for 204 years if he did not

the jury also heard from a former banker and first republic bank employee who helped to facilitate the payment , but the day began with the defense team seeking to undercut testimony of david pecker, the former publisher of the national enquirer, and a key witness for prosecutors , testifying at length about how he helped to silence people who could have hurt mr. trump's election chances. trump's lawyers sought to raise questions about david memory and motive. david pecker was defined at one point, saying "i've been truthful to the best of my recollection ." the tabloid mogul also undermined the idea that trump wanted to bury those stories about women to protect his family, a common refrain from the defense. instead, he said he believed it was all to protect his campaign. >> i do have to begin by wishing melania trump happy birthday. >> reporter: melania trump was notably absent at trial. >> court will not based on session monday so the trial resumes tuesday at 9:30. with that, let's bring in our leadoff panel, john allen, politics reporter for nbc. eugene scott, senior politics report

first republic locations in the bay area will close last year. last year jp morgan chase acquired first republic which is one of three midsize banks to fail. the closures will happen may 24th. of a giant tells us they will reopen 10 locations in our area as jp morgan or chase branches. >>> sometimes we get lucky to share an event that reminds all of us where we are in the universe. a lot of people travel to certain parts of the nation, even to mexico for a front row seat to the solar eclipse. in the path of totality, it did not make it to the bay but we got a partial viewing. it was hard for me, future scientists and students gathered at stanford. in oakland, chabot space and sign center hosted people who got to learn what it means when an eclipse happens. they held a viewing from the campus for all to enjoy. >> it feels so powerful. it feels magical, almost. and it is beautiful. >> i feel lucky to be alive to see all of this beautiful stuff. in this world. >> astronomers say it is a lucky time because the moon is slowly moving further away from the earth and at the same time the sun is getting bigger, meaning we hit the sweet spot. for th

bank executive gary farro took the stand. he was set to do that. it was right on time. he was a senior managing director at first republic bank in 2016.t's where and when mobile cohen allegedly opened shell companies used for the payments at the center of this case. he follows a quick testimony from long-time trump secretary rhona graff. and before that, extabloid publisher david pecker spent four days on the stand. pecker testified mostly about buying stories and not publishing them in order to quash bad press. stories not about this case but they are salacious so, you know. thirsty anyways, he also testified he did do the same thing for other celebrities, oh, are they going to go after all those other people, too? i will hold my breath. senior correspondent eric shawn is outside the new york state supreme court right now with more on this. so, eric, they are in the short break. bring us up to speed. >> eric: yeah, the president, harris, former president just arrived back into the courtroom sitting down after this recess and this proceeding will resume. this after mr. trump was found in contempt of court. judge juan merchan has find

he was michael cohen's banker at first republic bank. he set up the home equity line of credit through which michael cohen paid stormy and was reimbursed by donald trump. it's the financial transaction that's at the heart of all of this. the second witness was a woman by the name of rona graph. you may not know the name, but she was in the room for jirs about everything. she's donald trump's long-time assistant. she worked at the trump organization for 34 years. she also noted that she was on the stand because she had been subpoenaed and that the trump organization is paying for her attorneys. in a very brief line of questioning from the prosecution, alvin bragg's team had her authenticate e-mails and contacts for stormy daniels and karen mcdougal. graph said she had a vague recollection of seeing stormy daniels in the reception area of her office before donald trump was running for president. in cross-examination from donald trump's lawyer, graph also the said she recalled hearing about how stormy daniels, who she knew at the time was a

hey, carl the fdic seized republic first and sold it to fulton financial, those shares jumping this morning. republic had about $6 billion in assets making it the sixth largest bank since the crisis, however less than 3% of the size of similarly named first republic when that bank went under almost exactly a year ago. the contours of pluckic's demise, the bank had its own managerial issues. as of a year ago rising interest rates boosted the unrealized losses on the balance sheet and profitability on the decline, however a more recent snapshot is impossible to come by because republic never filed year-end financials for 2022 and 2023, causing it to be delisted. it was unable to solidify outside capital injections that were helpful in boosting other beleaguered banks like pacwest and new york community bank corp the fdic estimates that the cost to the deposit insurance fund related to the failure of republic first will be $667 million. that's a responsibility largely borne by the banking system itself the regional banks shrugging off the news as well with the kre basically flat today, not too much reaction there from other regionals. guys >> leslie, thank you lesli

bank. he was the senior managing director at first republic bank when michael cohen was trying to set up the payment stormy daniels before even getting to the point at which you're talking about influencing campaigns and what the purpose is. you have to establish just with the financial transactions we're and people may not know that litigation or trials are actually often quite boring. and basically you have to simply say probably excuse, have to come in and establish this is where the payment was made. this is the guy who knows where the payment was made. and this is where the payment went. you can have other witnesses who were in the room, perhaps even at that august 2015 meeting, talk about what was discussed and why they did it and so on. but witnesses like this might just be pure, just the facts, ma'am. witnesses, you can help establish what okay. and i'm sure you're hearing that donald trump is super excited to sit in the courtroom while week i think he's going to michigan wisconsin on wednesday the first time that we're actually because there are no trials, it yeah, there's nothing o

he testified that cohen tried opening an account at first republic bank under the name resolution consultants llc, that is the same company name that a former american media ceo testified that cohen nearly used to reimburse him for suppressing former playmate, karen mcdougall story about an alleged affair with trump. after court tonight, trump once again call the trial politically motivated. >> we sit here day after day after day because they think they might be able to eat out on election. >> reporter: trump's longtime executive assistant also testified today. she described trump as fair and respectful. he was her boss for 34 years. she maintained his contacts, including those for mcdougall and adult film actress stormy daniels. she testified she remembers seeing daniels at trump tower long before the 2016 election. meanwhile, tran8 wrapped up his testimony today. trump's lawyers exposed inconsistencies in his testimony about whether or not trump thanked him for suppressing stories. tran8 says he now believes he violated federal election law but he did not think that back in 2016. so court i

from michael cohen, october 26, michael cohen opens an account with the bank and this is gary fair, the banker from first republic bank testifying to the opening of this account under the name essential consultants, a shell company ultimately, he then very quickly moves his $131,000 from his home equity line of credit into that bank account to make money available there. and then the very next day, transfers $130,000 to stormy daniel's lawyer, keith davidson, ultimately, for her to get that money to keep her quiet. all of this is very important and additionally, gary pharaoh had things to say about what the bank would have wanted to know about this transaction that moved so quickly. very unusually quickly he said in his transcript he was being asked by prosecutor becky mangled. so now we've looked at the account opening documents for a consultants in some detail, right? gary farro responded, yes. >> mangled said, we'll probably more detail than anybody wanted. >> so he laughed and then she continued. did any of the account opening paperwork indicate that the account would be used to make a payment on behalf of a

he was the senior managing director at first republic bank here in manhattan. company for michael cohen a cohen used to pay off stormy daniels. farrow's testimony is designed to start laying the foundation for the financial documents the prosecutors say are the backbone of the 34 charges of trump allegedly filing false business records. cohen billed trump in invoices listed as fees for his retainer for providing legal services. prosecutors say that was all a sham to hide the true purpose of stormy's paves that were -- payoffs that were then reimbursed by trump. we could be hearing from a bookkeeper who the defense said positived the checks for cohen. todd blanch, the president's lawyer, said no one told her to keep anything secret. blanch told the jury, quote, president trump had nothing to do with anything -- any of the 34 pieces of paper9. in the white house while he was running the country, that is not a crime. the president arriving here this morning also made clear that he doesn't think this trial should go forward. he attacked judge juan merchan as he usu

according to the gao, the fhlb's went tens of billion to prop up silicon bank, first republic bank, before they failed. director thompson fhfa is the primary regulator for the fhlb's. do you think it's fortune for the fhfa's for the fhlb's to provide liquidity to housing and development and not just prop up failing banks and dividends? >> thank you for the question. we conduct add year long review of the bank session and 17 list enning sessions. and the home owned banks, dual mission, one to provide liquidity to their members and the other to support the communities that they live in through affordable housing development and community development and there's a huge affordability issue. there are huge supply issues and home loan banks are well positioned to do a lot more and that's one of our recommendations for the report. >> it's one thing to be well-positioned and then not spending the money to accomplish that. >> i think clarifying the positions is a start. and take a look who lines up for federal subsisubsidies. they are to promote housing, but in the last five full years, 42% of fhlb

the witness, back on the stand right now is gary farro, he was a senior managing director at first republic bank. it was farro who set up the show company for michael cohen that cohen used to pay off stormy daniels, farro laying out the financial document trial for the jury that prosecutors say was made to hide the money that michael cohen funneled to stormy daniels to keep her quiet during the campaign so that testimony ongoing right now and the president did get some good news though, judge merchan said he will be able to attend his son barron's high school graduation on may 17th. there was some controversy on that. so a carrot and a stick from judge merchan to the former president today. back to you. >> bill: that will do it for this minute, right? eric, thank you, eric shawn in lower manhattan. >> dana: here on set with us is law professor jonathan turley, so good having you. thank you for being here. >> thank you. >> dana: we have been waiting for gag order announcement we got it and president trump got it too, nine violations, $9,000. more to come. >> basically what we expected. they weren

the one thing that is really interest about gary farrow shows someone at first republic bank flagged the wire transfer as suspicious activity to the treasury department. we don't know who did it. the bank is now defunct. it f it turns out to be gary farro, it will be way more important. >> you wrote the 12 rules. they're telling a story. we now understand we had david pecker pays off the first two potential bombshell stories to get rid of them. then he says i'm not paying anymore. i'm not giving any more money but michael cohen is saying you have to pay this third one because now we have this "access hollywood" problem. he's like nope, so michael has to figure out a way to do it himself. he sets up an llc and not true things and then he pays. is that a smart way to do that and are they establishing that as a story that can win a case? >> yeah, i think they're put lg of this together. we're seeing the bricks get put together. we have to be very thorough with all of these things and then we have to tell a sory. i think this thing, if it isn't fraught him that we're going to get interes

the jury also hearing from gary farro, a former banker at first republic bank, who helped facilitate payment from michael cohen to daniels. the day began with the defense team seeking to undercut the testimony of david pecker, the former publisher of "the national enquirer", and a key witness for prosecutors, testifying at length about how he helped simon's people who could have hurt esther trumps election sentence. mr. trumps lawyer sought to raise questions about david memory and motives on cross- examination. david pecker, defined at one point, saying, "i have been truthful to the best of my recollection." the tabloid mobile undermining the idea mr. trump wanted to bury stories about women to protect his family, a common refrain from the defense. instead, david pecker city was all to protect his campaign. >> and have to begin by wishing melania happy birthday. she is in florida. >> reporter: melania trump notably absent at trial. >> court will not be in session on monday. the trial will resume on tuesday at 9:30 a.m. with that, let's bring in our leadoff panel, john allen, senior

he was michael cohen's banker at the now defunct first republic bank. cohen had maintained multiple accounts there over the years, but in october of 2016, he contacted gary farro and said he needed urgently to open a new account for a limited liability company he was starting. that's the company through which michael cohen made payments to stormy daniels after trump stalled so long that cohen became afraid that keith davidson, stormy daniels's lawyer and stormy daniels would either sell their story somewhere else or tell it somewhere else or both. therefore gary farro has a number of email exchanges and communications with michael cohen that buttress his story about the payments to daniels. he also can testify to the fact that somebody at first republic flagged the transaction as suspicious and contacted the treasury department. "the wall street journal" reported that in 2018. to this day we don't know who at first republic was the person to lift up the phone and call the treasury department. perhaps gary farro can shed some light on that. >> do things

. >> he was michael cohen's banker at first republic bank.g they don't deal with normal individuals, gary farro was careful to say you didn't have to be high net worth to be there. but it's a high touch surface which serves someone like michael cohen well. he had four or five accounts there in fall of 2015, october specifically. and contacted gary farro and said i need to open an llc account immediately. that is the account through which he paid stormy daniels. >> the alert that was put on the transaction. >> i don't know if i do. clearly you and i have read some of that same reporting. i don't believe that the person at first republic who notified the treasury department that there was something suspicious about that transaction has ever been named. whether it's gary farro or not, we don't know. i think he's there to authenticate documents and records, including the application that michael cohen put in to open this account which contained a number of misrepresentations itself. >> why is it important to have him and rhona graff right before

gary farro was senior manager at first republic bank assigned to michael cohen in 2015, at least in partat he called "individuals that may be a little challenging." that is quite a banking specialty. in 2016, gary farro helped michael cohen set up a bank account for the shell companies to pay $130,000.00 to adult film star stormy daniels on the eve of the 2016 election in order to keep her quiet about an affair she said she had with then candidate trump a decade earlier. prosecutors say they have another hours worth of questions for the banker before donald trump's attorneys cross- examine him and then on thursday, judge juan merchan is said to hold another hearing over trumps violations of his gag order. judge juan merchan has yet to decide what, if any punishment, trump will face for more than a dozen violations flagged by the prosecution, including for just last week. basically, this is yet another very busy legal week ahead. the thing i have two great lawyers joining me now, tristan snow, served as an assistant attorney general in new york. mellissa murray is a professor of law at ny

gao, the fhlb's went tens of billions of dollars to prop up silicon valley bank, signature bank and first republic bank before they failed. director thompson, fhfa is the primary regulator. do you agree that it is important to clarify that the mission is to provide liquidity for housing and community development to prop up failing banks and hand out dividends? >> absolutely. thank you for the question. we conducted a review of the home loan bank system and sessions around the country. through affordable housing development and community development and there is a huge affordability issue, huge supply issues and they are well positioned to do a lot more and that is one of the recommendations from the report. >> if they are taking the money and not spending it to accomplish that, i think clarifying the mission of the fhlb is an important start. who lines up for these federal subsidies? these subsidies are to promote housing, but in the last five years, 42% of members did not originate a single mortgage, not one. 42%. so how did this happen? it turns out under the current rule members only need to ho

if you bank at first republic, i know you don't. next month , jpmorgan chase is taking over the san francisco based bank. existing accounts will convert to chase accounts over memorial day weekend. first republic's 25 bay area locations will close may 24th. ten will be remodeled and reopened with new branding, 15 of them that are within a mile of existing chase locations will close permanently. and this morning, an economic warning from the man in charge of jp morgan chase. he's still concerned about inflation and believes we might be in for more interest rate hikes. here's abc news reporter lionel moise this morning. >> the leader of the nation's largest bank, jp morgan chase, is sounding the alarm that inflation could soar beyond 8% in the coming years, despite recent figures showing inflation has been cooling. in his annual letter to shareholders, jamie dimon said there has been too much emphasis on the short terme and not enough focus on long terme trends, writing huge fiscal spending, the trillions needed each year for the green

. >> if you bank at first republic, no, you don't. as of next month, jp morgan chase is taking over the san francisco based bank. existing accounts will convert to chase accounts over memorial day weekend. first republic's 25 bay area locations will close may 24th. ten will be remodeled and reopened with new branding. 15 of them that are within a mile of existing chase locations will close permanently. >> developing news in the east bay. investigators looking for the cause of a two alarm fire that burned a building in hayward last night. this is just west of interstate 880 on hall road. fire officials say no one was injured. >> if your morning commute takes you through the posey tube, it is back to normal. after this dangerous situation last night, drivers had to ditch their cars and walk out of the tunnel through smoke after a truck caught fire. abc seven news was there when crews brought the burn truck out of the tunnel. nobody was hurt in the north bay. >> we are learning. two people facing charges for a chop shop operation this mor