JPMorgan Chase Discloses DOJ Probes Over MBS Sales

Law360, Los Angeles (August 7, 2013, 8:28 PM EDT) -- JPMorgan Chase & Co. is responding to parallel civil and criminal investigations relating to the firm’s subprime and Alt-A residential mortgage-backed securities offerings sold between 2005 and 2007, according to JPMorgan’s quarterly report to the U.S. Securities and Exchange Commission filed Wednesday.

JPMorgan says the civil division of the U.S. Attorney’s Office for the Eastern District of California sent notice in May that it had preliminarily concluded that JPMorgan violated certain federal securities laws in connection with the offerings. JPMorgan also disclosed that it received a...
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