U.S. regulators, as part of a broad probe of how Wall Street firms bundled mortgage-linked financial products as the housing crisis worsened, notified a former JPMorgan Chase & Co . executive he may be sued for his role in selling the securities.
U.S. regulators notified a former JPMorgan Chase & Co . executive whose unit packaged mortgage- linked investments that he may be sued for his role in selling the securities as the housing crisis worsened in 2007.
JPMorgan Chase & Co. , the only Wall Street bank to remain profitable throughout the financial crisis, is in “advanced” negotiations to resolve its piece of a broader U.S. Securities and Exchange Commission investigation into how mortgage-linked securities were packaged and sold as the housing market unraveled.