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- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
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- Getting a Handle on Virtual Currencies - FINRA
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JPMorgan's Share of Mortgage Relief
[ by Melanie Gretchen ]
JPMorgan Chase & Co., the largest US bank, will pay borrowers almost a fourth of the $8.5 billion as part of a deal with the Government to dismiss a lawsuit on behalf of the homeowners who were victimized in the financial crisis. . All told, the suit encompassed 10 banks. JPMorgan's payment of $2 billion will include $753 million in cash and $1.2 billion toward foreclosure prevention efforts.
In addition, the New York-based firm will take a $700 million pretax charge related to the settlement for Q4, the earnings for which will be announced on 1/16.
For further details, go to [NY Post, 1/10/13].
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