JPMorgan in record $13bn settlement

摘要

JPMorgan Chase has agreed to a $13bn settlement with the US Department of Justice for knowingly selling toxic mortgage-backed securities in the boom years in what marks the largest ever fine levied on a corporation by the US government.Chief financial officer Marianne Lake said that 80% of the bad loans at the centre of the fine can be attributed to Bear Stearns and Washington Mutual - both institutions it rescued at the government's bidding in 2008.Of this settlement, $4bn will go to the Federal Housing Finance Agency, $2bn to the Department of Justice and $1.4bn to settle claims by the National Credit Union Administration. Another $4bn will go to homeowners hurt by JPMorgan's mis-selling practices.