Reuters logo
US regulator sues JPMorgan over $3.6 bln in mortgage securities
December 17, 2012 / 4:55 PM / 5 years ago

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.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below