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US regulator Sues JPMorgan Chase & Co Over WaMu Mortgage Securities-Reuters


Saturday, 5 Jan 2013 07:32pm EST 

Reuters reported that The U.S. credit union regulator sued JPMorgan Chase & Co and Washington Mutual over $2.2 billion in mortgage securities sold to credit unions that collapsed because of losses from the securities. In the lawsuit, the NCUA accused the bank of making misrepresentations in underwriting and selling mortgage-backed securities to U.S. Central, Western Corporate and Southwest Corporate federal credit unions. A JPMorgan representative declined comment. 

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