BREAKING NEWS

Now Reading:

JPMorgan Chase to stump up $11bn in US mishandled mortgage probe


economy

JPMorgan Chase to stump up $11bn in US mishandled mortgage probe

JP Morgan Chase is ready to settle all its outstanding mortgage securities issues as part of an 11 billion US dollar deal with state and federal authorities.

The amount is made up of 7 billion in cash and 4 billion in mortgage relief for consumers, after the bank mishandled mortgage loans and securities.

The talks to find a settlement gathered pace earlier this week when the US Department of Justice officials in California told the bank that it was preparing to file a lawsuit.

The bank has spent 10 billion dollars on legal fees in the last two years.

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article

economy

Tax hikes and spending cuts star in French budget