Reuters: Regulatory News: JPMorgan faces criminal and civil probes over mortgages

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

50% off Print Subscription of USA Today Get the news delivered to your doorstep. Lock in the savings and receive USA Today for just $0.75 a day. From our sponsors

JPMorgan faces criminal and civil probes over mortgages Aug 7th 2013, 21:15 Wed Aug 7, 2013 5:15pm EDT Aug 7 (Reuters) - JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Wednesday it is being investigated by civil and criminal divisions of the U.S. Department of Justice over offerings of mortgage-backed securities. The civil division gave the company a notice in May that it had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during 2005 to 2007, JPMorgan said. The company made the disclosures in a quarterly filing with the Securities and Exchange Commission. JPMorgan also raised its estimate of possible legal losses in excess of reserves to $6.8 billion billion at the end of June from $6 billion three months earlier.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions