JP Morgan agrees record $13 billion settlement with DoJ
Settlement resolves civil claims over residential mortgage-backed securities
The US Department of Justice (DoJ) has announced a $13 billion settlement with JP Morgan – the largest ever between the US government and a corporation.
The settlement resolves federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JP Morgan and the two companies it took over, Bear Stearns and Washington Mutual, prior to 2009. It does not, however, absolve JP Morgan or its employees of facing possible criminal
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