JPMorgan, DOJ Agree To $13B RMBS Settlement

Law360, Los Angeles (November 18, 2013, 8:02 PM EST) -- JPMorgan Chase & Co. and the U.S. Department of Justice agreed Monday to a $13 billion settlement resolving investigations into the financial services firm's allegedly misleading mortgage-backed securities issues and other home loan-related practices, according to media reports.

The settlement agreement was reached after JPMorgan said it would claim responsibility for soured mortgage bonds sold by Washington Mutual Inc. and after the parties resolved terms of $4 billion worth of aid to distressed homeowners, The Wall Street Journal reported, citing people familiar with the talks. The compromise comes...
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