Dimon Says JPMorgan Could Face FHA Insurance Suit

Law360, New York (October 12, 2012, 5:08 PM EDT) -- JPMorgan Chase & Co. CEO Jamie Dimon on Friday said that the company may face legal action from regulators as they pursue claims against banks they allege defrauded a federal mortgage insurance program by knowingly submitting mortgages with a high risk of default.

In a conference call announcing the bank's third quarter earnings, Dimon said that he expected that regulators would eventually get to JPMorgan after filing a suit against  Wells Fargo & Co. on Tuesday, although he added that regulators had not contacted the bank...
To view the full article, register now.