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JP Morgan reportedly agrees record $13 billion settlement

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JP Morgan reportedly agrees record $13 billion settlement

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JP Morgan Chase has reportedly reached a record $13 billion deal with the US Justice Department to settle a federal investigation into bad mortgage loans sold to investors before the financial crisis.

At issue in the tentative deal, the largest ever between the US government and a single firm, is whether America’s biggest bank knew its mortgages were riskier than they appeared.