Wednesday, September 25, 2013

J.P. Morgan facing $11 billion fine

http://www.marketwatch.com/story/jp-morgan-facing-11-billion-fine-reports-2013-09-25-15913134

J.P. Morgan Chase & Co. JPM +2.39% 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.

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