J.P. Morgan Nears $13 Billion Deal

resolution

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

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.

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J.P. Morgan Nears $13 Billion Deal

Neil Hall/Reuters