REPORT: JPMorgan Could Shell Out Up To $US11 Billion For A National Mortgage-Backed Security Settlement

Jamie dimonREUTERS/ Larry DowningJP Morgan CEO Jamie Dimon

And the hits just keep on coming… this one’s especially hard.

The Associated Press reports that JP Morgan could pay out up to $US11 billion — $US4 billion in customer relief and $US7 billion in cash — in a national settlement related to mortgage backed securities.

Sources close to the situation told the AP that the Justice Department is taking the lead on this, but individual states will likely get a piece of this pie as well.

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