Wednesday, August 28, 2013

JPMorgan Chase May Have To Pay $6 Billion To Settle Financial Crisis Lawsuit: Report

JPMorgan Chase May Have To Pay $6 Billion To Settle Financial Crisis Lawsuit: Report:

U.S. officials may want to extract a London Whale-size legal settlement from JPMorgan Chase.

The Federal Housing Finance Agency wants JPMorgan, the biggest U.S. bank by assets, to pay more than $6 billion to settle claims that it knowingly sold bad mortgages to Fannie Mae and Freddie Mac ahead of the financial crisis, the Financial Times reported on Tuesday, citing people familiar with the matter.

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