JPMorgan, Justice reach settlement
The Justice Department and JPMorgan Chase are expected to announce a long-awaited $13 billion settlement as soon as Tuesday, according to news media reports.
{mosads}The final part of the deal, the largest ever struck between federal authorities and a business, was struck Monday and would establish a $4 billion fund for distressed homeowners, The Wall Street Journal reports.
JPMorgan’s settlement stems from its role in circulating the mortgage-backed securities that played a large role in causing the 2008 fiscal crisis. The $13 billion settlement does not close a different criminal investigation of the bank.
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