JPMorgan Said to Have $4 Billion Tentative FHFA Accord
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JPMorgan Chase & Co. reached a tentative settlement for about $4 billion with the Federal Housing Finance Agency over the bank’s sale of mortgage-backed securities, according to a person familiar with the matter.
The possible accord with the agency, which originally asked for $6 billion from the firm, could be included in a broader deal the bank is seeking with federal and state authorities, according to a different person briefed on the settlement talks. If JPMorgan can’t reach a global settlement on pending mortgage bond matters, it may instead seek to settle claims such as the FHFA’s individually, said the person. Both people asked not to be named because the talks are private.