JPMorgan Chase Reaches $4.5 Billion Settlement Over Housing Collapse

JPMorgan Chase Reaches Settlement Over Housing Collapse
JP Morgan Chase Chairman and CEO Jamie Dimon is interviewed on the floor of the New York Stock Exchange Friday, July 12, 2013. (AP Photo/Richard Drew)
JP Morgan Chase Chairman and CEO Jamie Dimon is interviewed on the floor of the New York Stock Exchange Friday, July 12, 2013. (AP Photo/Richard Drew)

NEW YORK - JPMorgan Chase & Co

The bank will make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by the bank and Bear Stearns, which it took over during the financial crisis, the person said.

The settlement does not include trusts issued by Washington Mutual, which JPMorgan also acquired, the person said.

(Reporting by Karen Freifeld; Editing by Gary Hill)

Before You Go

Bernie Madoff

10 Bankers Behind Bars

Popular in the Community

Close

What's Hot