The U.S. Justice Department announced Tuesday that it reached a record $13-billion agreement with JPMorgan Chase to resolve allegations that it knowingly sold faulty mortgage investments that contributed to the 2008 financial crisis. The settlement is the largest settlement between the U.S. government and a single entity in history, the Justice Department said, and the largest sum ever paid by an American company. As part of the settlement, JPMorgan admitted it made serious misrepresentations to the public, including the investing public, about its numerous mortgage-backed securities transactions. The resolution also requires JPMorgan to provide$4 billion in relief, included in the ... Read More
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