Reuters: Regulatory News: UPDATE 1-JPMorgan in tentative $13 billion deal with U.S. Justice Dept. -source

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

Thousands of Free eBooks BookBub brings you free & bargain national bestselling eBooks in the genres of your choice! Sign up now & join 1.5 million happy readers. From our sponsors

UPDATE 1-JPMorgan in tentative $13 billion deal with U.S. Justice Dept. -source Oct 19th 2013, 19:27 Share this Email Print Reprints Sat Oct 19, 2013 3:27pm EDT By Aruna Viswanatha WASHINGTON Oct 19 (Reuters) - JPMorgan Chase & Co has reached a tentative $13 billion agreement with the U.S. Justice Department to settle a range of mortgage issues, a source familiar with the talks said on Saturday. The tentative deal does not release the bank from criminal liability, a factor that had been a major sticking point in the discussions, the source said. As part of the deal, the bank will continue to cooperate in criminal inquiries into certain individuals involved in the conduct at issue, the source, who declined to be identified. Officials at JPMorgan and the Justice Department declined to comment. A breakthrough in the weeks-long talks came Friday night, after Attorney General Eric Holder and JPMorgan Chief Executive Jamie Dimon spoke on the phone and the bank agreed to leave criminal liability out of the settlement, the source said. The bank and the Justice Department have been discussing a broad deal that would resolve not only a civil investigation into mortgage securities that the bank sold in the runup to the financial crisis, but also similar lawsuits from the Federal Housing Finance Agency, the National Credit Union Administration, the state of New York and others. Reuters reported late Friday that JPMorgan and FHFA had reached a tentative $4 billion deal. That agreement is expected to be part of the larger $13 billion settlement. JPMorgan is seeking a single settlement to resolve all claims from federal and state agencies over its mortgage-related liabilities stemming from the bust in house prices. Link this Share this Digg this Email Reprints

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