Florida Democrat Lois Frankel Sold First Republic Stock Before Sale: Controversy Erupts

Members of Congress are facing renewed scrutiny after a new disclosure report filed by Florida Democrat Lois Frankel revealed that she dumped First Republic Bank stock weeks before its collapse and subsequent acquisition by JPMorgan Chase. The timing of the sale has raised questions regarding potential insider knowledge and ethical considerations.

According to a financial disclosure report filed on April 28, Frankel sold between $1,001 and $15,000 in First Republic stock on March 16, while its value was sinking. She then purchased stocks in JPMorgan on March 22, weeks before the bank took over First Republic. The Daily Caller initially published the financial disclosure statement.

Florida legislator Lois Frankel sold her First Republic stock on March 16. Representative Lois Frankel recently sold shares of First Republic Bank as well as purchased stock in JP Morgan, which on Monday took over First Republic following its failure.

The reported sale has fueled debate about whether elected officials should be allowed to trade individual stocks, particularly those in sectors heavily impacted by government regulations and economic policies. Critics argue that such transactions can create potential conflicts of interest and undermine public trust.