JP Morgan still in talks with DOJ on settlement

No official word yet and both sides eager to get what they want

After initial rumblings that JP Morgan Chase was in talks with multiple government agencies to settle out of court over bad mortgage securities the bank offered during the run up to the financial crisis, not much has changed. Both sides are remaining tight lipped about details of an agreement, and any suspected deals are still fully capable of imploding.

Thus far, it has been reported that JP offered to pay roughly $11 billion to clear itself of a potential suit in California. $7 billion of that would be paid out in fines to the Justice Department and $4 billion would go to struggling homeowners.

Executive Editor

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Chris DiMarco

Chris DiMarco, Executive Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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