JPMorgan Chase Reaches $13B Settlement

After years of investigations

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Eduardo Munoz / Reuters

Commuters are reflected in stone as they walk past the JP Morgan headquarters in New York on May 11, 2012.

After years of investigations and lawsuits regarding its sales in subprime, mortgage-backed securities, JPMorgan Chase reached a $13 billion deal with the Department of Justice on Tuesday to settle all outstanding issues.

It’s the largest settlement ever to be reached between a corporation and the government, CBS reports.

JPMorgan agreed Friday to pay $4.5 million to investors who lost money in the housing collapse.

2 comments
RicardoRivera
RicardoRivera

Good! Let's keep collecting checks from these people who purposely caused the issues in the first place.

lordofthefly
lordofthefly

Among many duds in the Obama administration, Eric Holder leads the pack. That settlement is pocket change for Chase

What happens to Jamie Dimon, who reportedly asked and received a private meeting with Sir Holder? Let me answer my own question: nothing happens to him or any other Wall Street cheese running things. There is no accountability, and only shallow, naive people believe there is.