Friday, November 15, 2013

JP Morgan agrees $4.5bn mortgage compensation but Nobody Goes to Jail

JP Morgan agrees $4.5bn mortgage settlement

JP Morgan logoJP Morgan is one of the biggest investment banks in the world
US investment bank JP Morgan has agreed to pay $4.5bn (£2.8bn) to investors who lost money on mortgage-related securities during the financial crisis.
The settlement is with 21 major institutional investors.
Mortgage-related investments were a major factor in the crisis, which began in 2007 with the collapse of the US housing market.
Last month JP Morgan agreed to pay $5.1bn to regulators to settle charges it misled mortgage security investors.