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JPMorgan Will Pay $5.1 Billion to Settle FHFA Claims

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Oct. 25 (Bloomberg) -- JPMorgan Chase & Co. 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.

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To contact the reporter on this story: Clea Benson in Washington at cbenson20@bloomberg.net

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net

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