JPMorgan Talks, BofA Race Bias, Libor Suit: Compliance
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Sept. 25 (Bloomberg) -- JPMorgan Chase & Co. resumedsettlement talks with the U.S. as the government was preparingto sue the bank in California alleging it misrepresented thequality of mortgage-backed securities sold from 2005 to 2007,according to a person familiar with the matter.
The government informed JPMorgan it was ready to file acomplaint yesterday in Sacramento, the person said. Shortlyafter, talks between the bank and Justice Department officialsover a possible settlement restarted, said the person, who askednot to be identified because the matter isn’t public.