J.P. Morgan closing in on agreement with DOJ over mortgage probes

Record settlement of $13 billion would end civil investigation

For the better part of the last month, J.P. Morgan Chase and Co. has been in discussion with the Department of Justice (DOJ) to settle civil investigations into the mortgage-backed securities it sold in the run-up to the financial meltdown. Now an agreement seems to have emerged between the banking giant and the DOJ, with a final figure of $13 billion in fines and settlements on the table. If accurate, this will be the largest settlement of its type in history.

Word of the deal comes as the DOJ threatens to file a civil case if both parties cannot come to an agreement by Oct. 23.

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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