The Supreme Court has allowed the use of a 2021 map for the upcoming election in Galveston County, despite the fact that it wiped out the county's only majority-minority precinct in violation of the Voting Rights Act (VRA). The decision has raised concerns about the future of the VRA and has been met with criticism from civil rights groups, who argue that it undermines the VRA and will have a detrimental effect on minority voters. The 5th Circuit Court of Appeals has been asked to take up the case en banc and reverse its decision, setting a precedent that could be used to justify the use of racially gerrymandered maps in the future.
Posts tagged as “First Citizens BancShares, Inc.”
The FDIC announced that First Citizens Bank & Trust Company will purchase all of Silicon Valley Bank’s (SVB) deposits and loans that were transferred to a bridge bank in the wake of its collapse. The purchase will help to ensure that customers’ deposits are protected and that the bank’s operations will remain stable. The FDIC also received equity appreciation rights in First Citizens BancShares, Inc., Raleigh, North Carolina, common stock with a potential value of up to $500 million.