JPMorgan Will Pay $5.1 Billion to Settle FHFA Claims
Stock Chart for JPMorgan Chase & Co (JPM)
JPMorgan Chase & Co. (JPM) will pay $5.1 billion to settle Federal Housing Finance Agency claims related to mortgages and mortgage bonds sold to Fannie Mae and Freddie Mac. The settlement includes $4 billion to resolve one part of a $13 billion accord the bank has been negotiating.
FHFA, the regulator for the government-owned finance companies, announced the accord with New York-based JPMorgan, the biggest U.S. bank by assets, in a statement today.
To contact the reporter on this story: Clea Benson in Washington at email@example.com
To contact the editor responsible for this story: Maura Reynolds at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.