JPMorgan Likely To Settle Mortgage-Backed Securities Case
DAVID GREENE, HOST:
NPR's business news begins with a settlement in the making.
(SOUNDBITE OF MUSIC)
GREENE: JPMorgan Chase is negotiating an $11 billion settlement. The Wall Street Journal reports the firm would pay $7 billion in cash to regulators and $4 billion to consumers. JPMorgan is one of several large banks being investigated for its handling of mortgage-backed securities in the years leading up to the housing crisis.
The settlement would be a major victory for the federal government, after suffering years of criticism for its failure to hold Wall Street accountable for the crash.