"First Republic Bank's High-Paid Employees Under DOJ Investigation"

First Republic Bank, which was recently seized and sold to JPMorgan Chase, paid dozens of employees more than $10 million annually before its collapse, with at least one unnamed banker earning over $35 million last year. The bank's incentive system helped drive up compensation for employees to an average of $310,000 apiece last year, more than double the norm at JPMorgan. First Republic's failure left the FDIC's main insurance fund facing a multibillion-dollar hit, and regulators and the Justice Department are now investigating whether anyone working at the firm used inside information to make stock trades as the bank headed for collapse.