JPMorgan Settles Claims With Investors For 4.5 Billion

JPMorgan Settles Claims With Investors For 4.5 Billion

Recently, JP Morgan Chase reached a 4.5 billion settlement with a group of investors over claims that the bank sold them junk mortgage backed-securities that imploded later.

This settlement is separate from the $13 billion settlement that JPMorgan recently reached with the Justice Department over JP Morgan’s mortgage practices that led to the financial crisis. It’s not hard to believe, based on the resolution reached by the Justice Department, that the securities sold to the investors were low quality, and junk.

The 4.5 billion dollars will go towards investments sold by JPMorgan between 2005 and 2008.

With this settlement, one of the worst saga’s of our countries history is coming to a closing chapter.

For JPMorgan, $4.5 Billion to Settle Mortgage Claims – New York Times

http://news.google.com Sat, 16 Nov 2013 21:46:22 GMT

New York TimesFor JPMorgan, $4.5 Billion to Settle Mortgage ClaimsNew York TimesOn Friday, JPMorgan reached a $4.5 billion settlement with a group of investors over claims that the bank sold them shaky mortgage-backed securities that imploded later, leading to large losses. The multibillion-dollar payout is separate from the …JPMorgan Sets Tentative $4.5 Billion Accord for Mortgage BondsBloombergJPMorgan agrees to pay $4.5 billion to settle mortgage caseNBCNews.comJPMorgan to pay $4.5 billion …

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