This just in from Bloomberg. JP Morgan will pay $297 million to settle a lawsuits related to mortgage backed securities.
Earlier today Reuters reported that the bank had reached an agreement with the SEC, but did not disclose how much JPM would pay.
One of the cases is related to disclosures by JPMorgan of delinquencies involving one mortgage-backed securitization. The other case is over multiple securitization done by Bear Stearns, the failed investment bank that JPMorgan took over in March 2008 during the financial crisis.
The company faces numerous other government investigations and private lawsuits stemming from the financial crisis and from its $6.2 billion trading loss this year on credit derivatives.
On to the next.
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