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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBreaking - JP Morgan Chase to pay $13B in penalties
http://www.usatoday.com/story/news/nation/2013/10/19/jp-morgan-justice-department-deal-settlement-13b/3052383/<snip>
NBachers
(17,149 posts)sheshe2
(83,940 posts)From the sublink...
As part of the deal, the bank will likely cooperate in criminal inquiries into certain individuals involved in the conduct at issue, the source, who declined to be identified, said.
Officials at JPMorgan and the Justice Department declined to comment.
Another source close to the discussions characterized a deal as likely, but cautioned that parts of the agreement are still being hammered out, and the settlement could conceivably fall apart.
The record settlement could help resolve many of the legal troubles the New York bank is facing. Earlier this month JPMorgan disclosed it had stockpiled $23 billion in reserves for settlements and other legal expenses to help cover the myriad investigations into its conduct before and after the financial crisis.
The deal is being hammered out by some of the most senior officials at the Department of Justice and the largest U.S. bank. Attorney General Eric Holder and JPMorgan Chief Executive Jamie Dimon spoke on the phone on Friday night to finalize the broad outlines of the broad deal, the first source said.
http://www.reuters.com/article/2013/10/19/us-jpmorgan-settlement-idUSBRE99I09020131019?feedType=RSS&feedName=topNews&utm_source=dlvr.it&utm_medium=twitter&dlvrit=992637
Thanks for posting malaise.
malaise
(269,200 posts)Progress is being made
sheshe2
(83,940 posts)Make7
(8,543 posts)Is that why criminal charges weren't taken off the table?
Why is M$Greedia not covering this non-stop as they should?