NEW YORK, Sept 25 JPMorgan Chase & Co is
in talks with federal and state officials to settle mortgage
securities probes for as much as $11 billion, according to a
person familiar with the matter.
The talks are fluid and the $11 billion amount could change,
but the person said the figure is "realistic." The sum being
discussed would include $7 billion of cash and $4 billion of
consumer relief, the person said.
The discussions include the U.S. Department of Justice,
Securities and Exchange Commission and Department of Housing and
the New York State attorney general, the person said.
It was not immediately clear exactly how many sources of
potential liability for JPMorgan would be covered by the
settlement being discussed.
Authorities have been investigating the role of the bank -
and of two companies it bought in the financial crisis - in the
marketing of securities backed by subprime and other risky