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Valley Public Radio Staff
Fri October 25, 2013
JPMorgan Chase Agrees To Pay $5.1 Billion To Feds
Originally published on Fri October 25, 2013 4:55 pm
JPMorgan Chase agreed pay $5.1 billion to settle litigation over mortgage assets sold during the housing bubble. The deal, announced late Friday afternoon, is to resolve claims the company misled Fannie Mae and Freddie Mac before the housing market crashed. It is part of a tentative $13 billion deal the company is trying to reach with federal and state agencies over its mortgage liabilities.