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.