JPMorgan Chase negotiating massive fine

The Washington Post reports JPMorgan Chase is negotiating an $11 billion settlement with authorities over toxic mortgage securities the firm sold during the crisis.

Read: JPMorgan Chase slapped with $920M in fines

“According to the person with knowledge of the talks, the settlement under discussion would include $7 billion in cash and $4 billion in relief to consumers. JPMorgan has not agreed to that amount and the conversation with state and federal authorities is ongoing, said the person, who was not authorized to speak publicly.”

Read the rest here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.