US regulator sues JPMorgan over $3.6 bln in mortgage securities
Dec 17 (Reuters) - The National Credit Union Administration sued JPMorgan Securities and Bear Stearns & Co on Monday over alleged misconduct in the sale of $3.6 billion in mortgage securities to credit unions that collapsed on losses from the securities.
Bear Stearns made misrepresentations in connection with the underwriting and subsequent sale of mortgage-backed securities to U.S. Central, Western Corporate, Southwest Corporate and Members United Corporate federal credit unions, the lawsuit alleged.
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- U.S. war veteran released by North Korea returns home |
- WTO overcomes last minute hitch to reach its first global trade deal
- Ice storm causes blackouts, delays in Texas, Arkansas
- China's parliament: Japan has "no right to criticize" air defense zone