JPMorgan Nearing Record $13B Mortgage Settlement

Law360, New York (October 20, 2013, 5:14 PM ET) -- JPMorgan Chase & Co.is reportedly close to finalizing a record $13 billion settlement with the U.S. Department of Justice to resolve a host of federal and state enforcement actions over the bank's housing-bubble mortgage-backed securities and other home-loan related practices.

The settlement would not eliminate any pending criminal probes into the New York-based bank, including one in the Northern District of California, but would end the bulk of civil actions related to mortgage-backed securities issued by JPMorgan and two financial institutions it took over during the...
To view the full article, register now.