Wall Street braces for $50 billion mortgage hit
Wall Street thinks the overall price tag for settling with the federal government over the financial sector’s role in the mortgage crisis could be almost $50 billion.
{mosads}The New York Times reports that banks are extrapolating from JPMorgan Chase’s $13 billion settlement late last year to estimate what the broader sector might be on the hook for.
That $50 billion figure – which doesn’t count the JPMorgan settlement – would amount to roughly half what the big banks made in profits in 2012. It would also mean about $15 billion in relief to consumers.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed..
tt
Harris calls for ending filibuster for abortion rights
Harris calls for ending filibuster for abortion rights
The Hill's Headlines, May 28, 2024
Speaker Johnson on passing foreign aid package
Undecided voters' impact on 2024 election - The Daily ...
Nikki Haley gets Koch backing
The Hill's Headlines – Nov. 28, 2023
