Aug 27 U.S. government housing finance
authorities are pressing JPMorgan Chase & Co for at
least $6 billion to settle lawsuits over bonds backed by
subprime mortgages, according to a person familiar with the
The company is arguing that it should pay less to settle the
claims by the U.S. Federal Housing Finance Agency, according to
the source, who was not authorized to speak for attribution.
The FHFA sued JPMorgan over some $33 billion of securities
two years ago and also sued 16 other financial institutions.
The Financial Times reported the amount being sought over
the mortgage securities on its website earlier on Tuesday.
The FHFA litigation is among a raft of legal issues JPMorgan
is trying to work through in addition to investigations over its
"London Whale" derivatives loss last year.