JPMorgan Settlement Of 5.1 Billion

JPMorgan Settlement Of 5.1 Billion

Based on recent turn of events, JPMorgan Chase agreed to pay $5.1 billion in order to help resolve claims originating from it misleading Fannie Mae and Freddie Mac about risky home loans, and mortgage securities it sold to them. This is previous to the housing market collapse occuring(and a possible contributor to the collapse).

This settlement is symbolic more than anything else, because it signals a “cause” to the economic crisis that occured. What’s important about this is the fact this means the case has been settled, in terms of civil ramifications. Meanwhile, this doesn’t mean that the criminal ramifications have been settled. A deal with the justice department has not been released yet.

JPMorgan to pay $5.1 billion to Fannie Mae, Freddie Mac over…

http://www.nbcnews.com Sat, 26 Oct 2013 02:03:49 GMT

 

 

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