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JPMorgan Chase & Co To Pay $4.5 Billion In Mortgage Securities Deal-Reuters


Friday, 15 Nov 2013 04:49pm EST 

Reuters reported that JPMorgan Chase & Co has agreed to pay $4.5 billion to settle claims by investors who lost money on mortgage-backed securities in the collapse of the U.S. housing market. The bank will make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by the bank and Bear Stearns, which it took over during the financial crisis. The settlement does not include trusts issued by Washington Mutual, which JPMorgan also acquired. 

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