More On

JPMorgan pays $18.3 million to settle mortgage suit

Suit claimed Bear Stearns failed to disclose actual interest rates of ARMs

JPMorgan & Co. can put another related-to-mortgage fraud behind it. The company announced yesterday that it will pay $18.3 million to settle claims that its subsidiary Bear Stearns failed to disclose the actual interest rates on its adjustable-rate mortgage (ARM) documents.

A judge is scheduled to approve the agreement on Oct. 7. This settlement is one of several JPMorgan is agreeing to with regard to ARMs.


Cathleen Flahardy

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.