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J. P. Morgan Chase - Page 3

JPMorgan Faces Probe as U.S. Faults Mortgage Bond Sales:

JPMorgan Chase & Co. (JPM:US), the biggest U.S. Bank, said it's under federal criminal investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded broke civil laws.
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Federal prosecutors announced charges against ex-JPMorgan Chase traders Javier Martin-Artajo and Julien Grout. Ref. USAToday

J. P. Morgan Chase History & Civil Business Politics

JP Morgan fined over 'London Whale'

US investment bank JP Morgan fined $920m (£572m) over losses run up by trader nicknamed "London Whale" Ref. BBC

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JP Morgan Chase, the largest U.S. Bank by assets, is in discussions with the Justice Department about a $13 billion deal that would settle a wide range of issues related to the sale of bad mortgages, The Wall Street Journal reported Saturday, citing "A person familiar with the decision." Several other media outlets also reported the settlement. Ref. USAToday

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The Justice Department and JPMorgan Chase have tentatively reached a $13 billion civil settlement related to several investigations of the finance giant's mortgage business, a U.S. Official familiar with the negotiations told CNN on Saturday.

The tentative deal includes $4 billion in consumer relief, such as loan modifications, as well as $9 billion in fines and penalties, according to the official. JPMorgan Chase declined comment.

The settlement stems from claims from a number of regulators that JPMorgan Chase misled investors about the quality of the mortgages it was selling in the run-up to the financial crisis. Ref. CNN

J. P. Morgan Chase

JPMorgan to pay $11 billion bribe:

JPMorgan Chase has reached a tentative deal to pay about $4 billion to settle charges about mortgages it sold during the height of the housing boom, according to reports. The bank, which is the largest in the country, would pay $7 billion in cash and provide $4 billion of consumer relief. Ref. Source 3

J. P. Morgan Chase - Page 3

JPMorgan Chase to pay $5.1bn to settle claims:

Under the terms of the settlement, JPMorgan admits no wrongdoing. JPMorgan will pay about $2.74bn to Freddie and $1.26bn to Fannie for the securities it sold. Ref. Source 1

J. P. Morgan Chase Politics Business Civil & History - Page 3

The $13 billion deal sets a record for a Department of Justice settlement with a single firm. The nation's largest bank agreed to take responsibility for problems with mortgage securities marketed by Washington Mutual, the failed bank JPMorgan acquired in 2008 during the financial crisis. Ref. CNN