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JPMorgan Chase & Co. Close To $6 Billion Settlement With Investors-Reuters

Tuesday, 22 Oct 2013 09:18pm EDT 

Reuters reported that JPMorgan Chase & Co is nearing a $6 billion deal with a group of institutional investors to settle claims that the bank sold them substandard mortgage-backed securities in the run-up to the financial crisis. Representatives of JPMorgan and the investors met on October 18, 2013 to discuss the settlement, though the two sides have not yet agreed to formal terms, the source said. The potential deal is separate from the preliminary $13 billion settlement JPMorgan has reached with the U.S. government that would resolve civil actions brought by a number of enforcement agencies.