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Why the First Republic Bank failure is different

Published Fri, 07 Feb 2025 17:12:52 GMT

First Republic Bank, based in San Francisco, has shut its doors. But this bank failure is different from another recent failure — the March closure of Silicon Valley Bank — in that depositors knew on the day of the announcement how they could access their funds, even if their balances were outside federal insurance limits, according to a JPMorgan Chase press release.Here’s a look at how the two bank failure announcements compare, and what you should know to protect your deposit accounts in the event of a future bank failure.First Republic Bank and SVB: The differenceThe Federal Deposit Insurance Corp. announced on Monday that First Republic Bank “was closed.” However, First Republic deposit customers can access their funds. According to the FDIC press release, “All depositors of First Republic Bank will become depositors of JPMorgan Chase Bank, National Association, and will have full access to all of their deposits.” In addition, customer bank balances will continue to be ins...

Ex-Minneapolis officer Tou Thao convicted of aiding George Floyd’s killing

Published Fri, 07 Feb 2025 17:12:52 GMT

A former Minneapolis police officer who held back bystanders while his colleagues restrained a dying George Floyd has been convicted of aiding and abetting manslaughter.Tou Thao, who already had been convicted in federal court of violating Floyd’s civil rights, was last of the four former officers facing judgment in state court in Floyd’s killing. He rejected a plea agreement and, instead of going to trial, let Hennepin County Judge Peter Cahill decide the verdict based on written filings by each side and evidence presented in previous cases. His 177-page ruling, filed Monday night, was released Tuesday.“Thao’s actions were not authorized by law. … There is proof beyond a reasonable doubt that Thao’s actions were objectively unreasonable from the perspective of a reasonable police officer, when viewed under the totality of the circumstances,” Cahill wrote.Prosecutors argued in their filings in January that Thao “acted without courage and displayed no compassion” despite his nearly n...

NY Attorney General reaches agreement to cap insulin prices

Published Fri, 07 Feb 2025 17:12:52 GMT

ALBANY, N.Y. (NEWS10) – New York State Attorney General Letitia James announced on Tuesday, May 2 that her office has reached an agreement with manufacturers to cap insulin prices for uninsured New Yorkers. Get the latest, news, weather, sports and community events delivered right to your inbox! James announced an agreement with Lilly and Sanofi – two of the biggest insulin manufacturers in the nation – to cap prices for their diabetes medications at $35 for uninsured New Yorkers for the next five years. Both companies also committed to offering free insulin for diabetes patients in greatest need.“Lifesaving medication should be affordable and accessible for all New Yorkers regardless of their income or insurance status,” the Attorney General said in a statement. “Today, uninsured New Yorkers who rely on insulin to manage their diabetes can breathe a sigh of relief that they no longer have to choose between their health or putting food on the table. I will always use the powers of...

Jury selection continues in the Schoharie limo crash trial

Published Fri, 07 Feb 2025 17:12:52 GMT

SCHOHARIE, N.Y. (NEWS10) -- News10 got a closer look at what both the prosecution and defense are looking for in jurors for the criminal trial of Nauman Hussain, with a majority of the questions centering on whether or not they could be fair in this case. The prosecution listed different witnesses to potential jurors and asked questions that all centered around whether or not those jurors would have bias against any of those witnesses. The prosecution said they intend to call a few different groups of witnesses to the stand in this trial.  Get the latest, news, weather, sports and community events delivered right to your inbox! Auto mechanics, employees with the New York State Department of Transportation, law enforcement; primarily state troopers and an expert witness on limousine breaks are all on standby.The prosecutor mentioned that the expert witness was paid to examine the wreck, conduct measurements, tests and provide a conclusion on the wreck. Some of the other questions a...

Repaving of Lancaster Street rescheduled to May 8 and 9

Published Fri, 07 Feb 2025 17:12:52 GMT

ALBANY, N.Y. (NEWS10) -- The final step of a water service replacement project is facing a slight delay. The Albany Department of Water and Water Supply has rescheduled the repaving of Lancaster Street between Lark and Dove Streets to May 8 and 9 due to potential rain. Get the latest, news, weather, sports and community events delivered right to your inbox! An Emergency No Parking Restrictions will be in effect on Tuesday and Wednesday between 6 a.m. and 7 p.m. There will be limited access to the parking garage at 180 Lancaster and residents who utilize on-street parking will need to find alternative parking.Repaving is the final step of a project that replaced over 700 feet of water main infrastructure. Lead service to homes was also removed.

Schenectady man arrested following fraudulent check investigation

Published Fri, 07 Feb 2025 17:12:52 GMT

SCHENECTADY, N.Y. (NEWS10) -- New York State Police of Princetown have arrested a Schenectady man following an investigation into fraudulent checks. Zyaire N. Sheppard, 24, is being charged with two counts of Criminal Possession of a Forged Instrument in the Second Degree, Grand Larceny in the Third Degree, and Conspiracy in the Fifth Degree. Get the latest, news, weather, sports and community events delivered right to your inbox! Police initially received a complaint that multiple fraudulent checks had been written on December 8, 2022. Investigators determined that Sheppard possessed two fraudulent checks valued over $4,800, and had conspired to deposit the checks into a bank account of another individual. Sheppard was arrested with the assistance of the Schenectady County Probation Office. He was transported to the Schenectady County Correction Facility to await arraignment.

Vegan arcade eatery in Schenectady still looking to open after delays

Published Fri, 07 Feb 2025 17:12:52 GMT

SCHENECTADY, N.Y. (NEWS10) -- Unbeetable, Schenectady's first vegan arcade bar and restaurant, was originally set to open at 148 Clinton Street in the fall of 2022. It's now May 2023 and the restaurant is still not open. Get the latest, news, weather, sports and community events delivered right to your inbox! Owner Chelsea Heilmann, who also owns the vegan eatery Take Two Café in Schenectady, said the opening was delayed due to issues with the previous construction team. She said the new team had to redo a lot of the work.Also, Heilmann had to buy a new kitchen hood which they are still waiting on. Once the hood is installed and the restaurant inspections are finished, a specific opening date for Unbeetable will be announced, said Heilmann. New owners reviving Gibby’s Diner in Delanson Unbeetable will serve elevated vegan pub food and have cocktails, beer, and non-alcoholic drinks. The eatery will have 16 arcade games total, as well as other fun games. Games include:Pac ManNBA J...

Hochul announces over $3M in grants for land conservation

Published Fri, 07 Feb 2025 17:12:52 GMT

ALBANY, N.Y. (NEWS10) -- On Tuesday, Governor Kathy Hochul announced grants for not-for-profit land trusts across New York. Over $3 million has been awarded to support projects that protect water quality and farmland, boost public access for outdoor recreation and conserve open space to benefit community health, tourism, and economic development.  Get the latest, news, weather, sports and community events delivered right to your inbox! "Land conservation is essential in New York's fight to mitigate climate change and protect our state's unparalleled natural resources," said Governor Hochul. "Supporting the critical work of land trusts across the state will bring us closer to our goal of safeguarding 30 percent of public land in New York by 2030, ensuring future generations will have access to green space and protected natural habitats."10 not-for-profit land trusts in the Capital Region are receiving grants totaling $664,040. The land trusts and allocations are as follows:Agricult...

St. Louis Circuit Attorney's Office under scrutiny from Auditor

Published Fri, 07 Feb 2025 17:12:52 GMT

JEFFERSON CITY, Mo. - The Missouri State Auditor says he may file a lawsuit against St. Louis Circuit Attorney Kim Gardner.Auditor Scott Fitzpatrick said she’s not handing over the information he needs to complete the audit to see if her office is wasting taxpayers' money.He said he’s been after certain documents for some time now and has given the Circuit Attorney’s Office deadlines. He said he'd run out of patience.“If we don’t received that in the next week or so, then we will be going to court," Fitzpatrick said. "We basically have to file a lawsuit to enforce the petition in court, where a judge would essentially order the Circuit Attorney’s Office to comply with the subpoena, and if they fail to do that, we would have to go back to the judge and say they didn’t. Then the judge would have to determine if they were going to be held in contempt of court or what was going to happen there. So the next step is just going to court to enforce the subpoena and force them to comply with...

Cardinals to host 'Jayson Tatum Night' in August

Published Fri, 07 Feb 2025 17:12:52 GMT

ST. LOUIS - The St. Louis Cardinals will celebrate one of the most popular active athletes from the St. Louis region with a special theme night this summer. The Cardinals are set to host "Jayson Tatum Night" at Busch Stadium on August 1. The Boston Celtics star is expected to attend and meet some fans. St. Louis Circuit Attorney’s Office reeling after resignations Anyone who purchases a special theme ticket will receive an exclusive Jayson Tatum bobblehead.  A portion of each ticket sold will be donated to The Jayson Tatum Foundation. There will also be VIP tickets available that include a pregame meet-and-greet with Tatum, along with a pre-signed photo. Tatum, a 2016 graduate of Chaminade College Preparatory School in Creve Coeur, is in the second round of the NBA playoffs with the Boston Celtics. The 25-year-old has established himself as one of the league’s most prolific scorers and has enjoyed four consecutive All-Star selections. He reached the NBA Finals last year, but is s...