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JPMorgan Chase Will Pay $13 Billion In Record Settlement

In a settlement deal, JPMorgan Chase has agreed to pay some $13 billion in fines and other payments related to mortgages and mortgage securities that helped cause the financial crisis that began in 2007. Mark Lennihan/AP hide caption

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Mark Lennihan/AP

The Two-Way

JPMorgan Chase Will Pay $13 Billion In Record Settlement

The Justice Department announces that JPMorgan Chase will pay $13 billion to settle U.S. claims over the sale of troubled mortgages. The deal includes a $4 billion payment for consumer relief. More than half of the record settlement amount will be tax-deductible, the banking giant says.

Deal With Banks Isn't Only Way For Homeowners To Get Help, HUD Chief Says

For sale signs on a foreclosed house in Glendale, Calif., last September. Kevork Djansezian/Getty Images hide caption

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Kevork Djansezian/Getty Images

The Two-Way

Deal With Banks Isn't Only Way For Homeowners To Get Help, HUD Chief Says

There's been some skepticism about how much help the $25 billion package will give hard-hit homeowners. HUD Secretary Shaun Donovan says there are other remedies for those who were devastated.

Michel Martin talks with HUD Secretary Shaun Donovan

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