Monday, November 18, 2013

JP MORGAN TO PAY$4.5BN TO 21 INVESTORS

JP Morgan has agreed to pay $4.5bn to 21 major institutional investors who lost money on mortgage-related securities during the financial crisis.
Mortgage-related investments were a major factor in the crisis, which began in 2007 with the collapse of the US housing market.
Last month JP Morgan agreed a separate, preliminary $13bn deal with the US government over mortgage securities.

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