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JPMorgan Chase Agrees To Pay $5.1 Billion To Feds

NPR | By Melissa Block,
Dan Bobkoff
Published October 25, 2013 at 6:26 PM EDT

JPMorgan Chase agreed pay $5.1 billion to settle litigation over mortgage assets sold during the housing bubble. The deal, announced late Friday afternoon, is to resolve claims the company misled Fannie Mae and Freddie Mac before the housing market crashed. It is part of a tentative $13 billion deal the company is trying to reach with federal and state agencies over its mortgage liabilities.

Copyright 2013 NPR
Melissa Block
As special correspondent and guest host of NPR's news programs, Melissa Block brings her signature combination of warmth and incisive reporting. Her work over the decades has earned her journalism's highest honors, and has made her one of NPR's most familiar and beloved voices.
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Dan Bobkoff
See stories by Dan Bobkoff