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JPMorgan Chase Faces Justice Department Probe

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JPMorgan Chase Faces Justice Department Probe

Business

JPMorgan Chase Faces Justice Department Probe

JPMorgan Chase Faces Justice Department Probe

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  • <iframe src="https://www.npr.org/player/embed/210062388/210062379" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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JPMorgan Chase revealed on Wednesday that it's facing criminal and civil investigations by the Justice Department. The bank says the investigations focus on sales of subprime mortgage securities in the years preceding the financial crisis.

LINDA WERTHEIMER, HOST:

NPR's business news starts with questions for JPMorgan.

(SOUNDBITE OF THEME MUSIC)

WERTHEIMER: JPMorgan Chase revealed yesterday that it's facing criminal and civil investigations by the Justice Department. The bank says the investigations focus on sales of subprime mortgage securities in the years preceding the financial crisis.

The revelation comes in the wake of news that the DOJ is suing Bank of America for defrauding investors in mortgage-backed securities.

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