J.P. Morgan Nears $13 Billion Deal

resolution

Updated Apr. 20, 2017 3:29PM EDT / Published Oct. 19, 2013 4:29PM EDT

Neil Hall/Reuters

And you thought you had a hell of a mortgage. J.P. Morgan Chase & Co. is nearing a deal on all civil mortgage-bond-related matters with the Department of Justice, a source told The Washington Post. The amount of the settlement grew from $11 billion to a record $13 billion during Friday night negotiations, but does not yet include a release of potential criminal liability for the bank. The deal will likely require J.P. Morgan to cooperate in criminal investigations of employees tied to corrupt mortgage practices.

Read it at The Washington Post

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J.P. Morgan Nears $13 Billion Deal

Neil Hall/Reuters