J.P. Morgan Reaches $5.1 Billion Settlement


jp-morganJ.P. Morgan’s settlement crisis is finally over and Jamie Dimon and company have come out in better-than-expected shape.

The Federal Housing Finance Agency announced on Friday that it reached a settlement with J.P. Morgan Chase, in which the bank will pay Freddie Mac $2.74 billion and Fannie Mae $1.26 billion to resolve “claims related to securities sold to the companies between 2005 and 2007,” according to a press release. It was previously reported that J.P. Morgan would have to pay close to $6 billion.Read more at Business Insider.

{Matzav.com Newscenter}


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