469

The Justice Department, along with federal and state partners, announced a $13 billion settlement with JP Morgan to resolve federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities by JP Morgan, Bear Stearns and Washington Mutual prior to Jan. 1, 2009. As part of the settlement, JP Morgan acknowledged it made serious misrepresentations to the public about numerous RMBS transactions. The resolution also required JP Morgan to provide much needed relief to underwater homeowners and potential homebuyers. The settlement did not absolve JP Morgan or its employees from facing any possible criminal charges. For more info visi...View all