What First Republic failure tells us about financial system

The 84 branches of First Republic Bank are opening Monday as JP Morgan Chase Bank, according to JP Morgan Chase, which struck a deal with federal regulators to buy up First Republic Bank.

First Republic is the third bank to fail this year — and the largest.

Here & Now's Scott Tong speaks with Karen Shaw Petrou, co-founder and managing partner of Federal Financial Analytics, an advisory company focused on financial services companies.