Everything you need to know about JPMorgan’s $13 billion settlement

JPMorgan’s total $13 billion settlement only covers roughly one working week of QE3 investments. The $3 billion earmarked for federal coffers is barely more than one day’s worth. The 30 tickers on the Dow Jones (DJINDICES:^DJI) index add up to a total market value of $4.8 trillion these days.

A significant step forward for JPMorgan. The most important news of the day concerns embattled Dow component JPMorgan Chase (NYSE:JPM), which on Friday struck a tentative $13 billion settlement that would end several civil investigations into the sale of mortgage securities in the run-up to the financial crisis.

You may think that only big, established companies need to worry. spent nearly $13 billion last year dealing with NPE assertion and litigation. Just under half of that money went to legal expenses.

JP Morgan Chase, feds agree to $13 billion settlement. As part of the $6 billion to investors, $4 billion will resolve government claims that jpmorgan misled mortgage finance giants Fannie Mae and Freddie Mac about risky mortgage securities the bank sold them before the housing market crashed. That part of the deal was announced on Oct. 25.

US banking giant JPMorgan Chase may pay a record $13 billion fine to the justice department. jpmorgan to pay record $13 billion to settle US probes: report . World. Everything You Need to Know.

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Attorneys general in California ($299 million), Massachusetts ($34 million) and Delaware ($20 million) also took home a share of the settlement. That leaves $4 billion in the overall $13 billion deal. The Justice Department, which led negotiations with the bank, earmarked the final sum to help struggling homeowners in hard hit areas like Detroit.

For instance, the trust was suppose to pay for breaking leases on closed WaMu bank branches. Currently, there is $2.7 billion remaining in the trust, and about $13 billion in claims.

The Department of Justice, or DOJ, and JPMorgan Chase & Co. (NYSE:JPM) have reportedly reached an agreement in the pending $13 billion settlement. One person familiar with the matter told CBS the.

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Under the settlement, the Sacklers would wash their hands of Purdue, putting up $3 billion of the family’s estimated billion fortune and turning Purdue into a trust, with profits from OxyContin.