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JPMorgan Paid Out $2.2B In Mortgage Relief Under 2013 Deal

Law360, New York (April 2, 2015, 1:06 PM EDT) -- The monitor overseeing JPMorgan Chase & Co.’s compliance with its November 2013 $13 billion settlement on Thursday said the bank has been credited with paying out $2.2 billion of the $4 billion in consumer relief required under that deal.

Settlement monitor Joseph H. Smith Jr. said that JPMorgan Chase had distributed more than $2.2 billion in consumer relief, including mortgage modifications and lending in low- to moderate-income communities, to nearly 112,000 borrowers as of the end of September 2014. The bank has until Dec. 31, 2017,...
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