Post by bot on Sept 26, 2013 19:40:32 GMT -5
J.P. Morgan facing $11 billion fine: reports
NEW YORK (MarketWatch) -- J.P. Morgan Chase & Co. is in talks for an $11 billion settlement with regulators over probes into mortgage-backed securities, according to reports on Wednesday. The bank is in talks with federal and state regulators to settle several lawsuits. The current settlement amount is split into $7 billion in cash and $4 billion for consumer relief, said the reports. The talks are very fluid and the settlement could come as early as next week. J.P. Morgan shares were up more than 2% in afternoon trading.
NEW YORK (MarketWatch) -- J.P. Morgan Chase & Co. is in talks for an $11 billion settlement with regulators over probes into mortgage-backed securities, according to reports on Wednesday. The bank is in talks with federal and state regulators to settle several lawsuits. The current settlement amount is split into $7 billion in cash and $4 billion for consumer relief, said the reports. The talks are very fluid and the settlement could come as early as next week. J.P. Morgan shares were up more than 2% in afternoon trading.
