JPMorgan Chase Nearing Another Major Settlement, This One For $6 Billion: Report

JPMorgan Chase Nearing Another Major Settlement, This One For $6 Billion: Report

NEW YORK, Oct 22 (Reuters) – JPMorgan Chase & Co is nearing a $6 billion deal with a group of institutional investors to settle claims that the bank sold them substandard mortgage-backed securities in the run-up to the financial crisis, a source familiar with the talks said.

Representatives of JPMorgan and the investors met on Friday to discuss the settlement, though the two sides have not yet agreed to formal terms, the source said.

BANK OF AMERICA BRACES FOR 3 ADDITIONAL U.S. PROBES [VIDEO]

 

Oct. 22 (Bloomberg) — Bloomberg’s Betty Liu reports on today’s top stories in Top Headlines. She speaks on Bloomberg Television’s In The Loop.

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