Florida Dem. Lois Frankel Sold First Republic Stock Before Sale
Fresh off the introduction of a new bill that bans congress members from trading and owning Stocks , Florida Democratic congresswoman Lois Frankel has revealed that she dumped First Republic Bank stock prior to its collapse. Additionally, she purchased JPMorgan stock before JPMorgan purchased First Republic. Source: CNBC 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 and then bought between $1,001 and $15,000 in JPMorgan stock on March 22. Lois Frankel spoke to CNN about the purchases. She says her account “is managed independently by a money manager who buys and sells stocks at his discretion.” Congresswoman Frankel is not facing any investigations. In January, Virginia Rep. Abigail Spanberger and Republican Rep. Chip Roy of Texas reintroduced the bipartisan Transparent Representation Upholding Service and Trust (TRUST) in Congress Act, which bans members of Congress and...