According to CNN, JPMorgan pocketed $21.3 billion in net income in 2012 and has assets in the trillions, so it shouldn’t take long for the bank to come up with the funds. If the $13 billion settlement is approved, about $6 billion "will serve as compensation for investors like pension funds that suffered losses," according to the Times.
Everything You Need to Know About JPMorgan’s $13 Billion Settlement. washingtonpost.com | October 22, 2013. By Neil Irwin. JPMorgan Chase is nearing a $13 billion civil settlement with the Justice Department for its mortgage lending practices. So what’s going on here? We’re here to help.
Thank you, Jeff. On Slide 13 I am pleased. the ability of our base to know more about their customers and to do more through automation and integration off of our platform with either e-commerce or.
The $13 billion settlement, if finalized, would be an important milestone in the battle against the phantoms of credit-bubble practices and losses that have come back to haunt the bank.
In short, America’s biggest bank will pay more than $6 billion to compensate investors, $4 billion to help struggling homeowners and the remaining $3 billion as a fine. How billion breaks.
But their fortunes turned somewhat on Tuesday, when they ended up on the receiving end of JPMorgan Chase’s record $13 billion settlement. The deal, the largest payout a single company ever made in a government settlement, centered on the bank’s sale of troubled mortgage securities to investors in the run up to the crisis.
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When asked by Goldman’s mortgage capital committee: “How do we know we caught everything. settlement with the Department of Justice in relation to subprime mortgages during the Great Recession..
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