DOJ Investigates High-Paid First Republic Bank Employees' Stock Trades

First Republic Bank was paying dozens of employees more than $10 million apiece annually before its collapse. JPMorgan Chase & Co agreed to pay $10.6 billion to the FDIC to take control of most of First Republic's assets in a deal to resolve the largest U.S. bank failure since the 2008 financial crisis. Some potential rescuers were surprised by the compensation figures on display when the FDIC granted access to the bank's data room days before the agency's emergency intervention on May 1.