Morgan Stanley and JPMorgan Chase & Co. agreed to pay $1.86 billion to end U.S. accusations of misconduct in their handling of home loans and related securities that left taxpayers shouldering losses after the financial crisis.
JPMorgan Chase & Co. will pay $614 million to settle claims it improperly approved Federal Housing Administration and Veterans Affairs loans that weren’t eligible for insurance from those agencies because they didn’t meet underwriting requirements.
The Justice Department suit against Standard & Poor’s has entered a phase where lawyers spend months arguing over procedure, and progress is slim. Tony West, who’s overseeing the case. knows the feeling: His nomination to become the agency’s No. 3 official has been blocked for half a year.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon went to Washington almost a month ago to see if U.S. Attorney General Eric Holder would settle a criminal probe of mortgage fraud at the bank if it paid more money to resolve related civil investigations.
Nine months into her job as California attorney general, Kamala Harris found herself across the table from lawyers for five of the nation’s biggest lenders, trying to hammer out a deal to help mortgage holders weather the foreclosure crisis.
JPMorgan Chase & Co.’s record $13 billion deal to end U.S. probes of its mortgage-bond sales would free the nation’s largest bank from mounting civil disputes with the government while leaving a criminal inquiry unresolved.
The Justice Department’s $13 billion mortgage securities settlement with JPMorgan Chase & Co. is a record and also a rarity -- Attorney General Eric Holder’s first big win against a bank at the heart of 2008’s financial crisis.
The four largest U.S. railroad companies won their bid to reverse a ruling that turned a price- fixing lawsuit against them by shippers into a group lawsuit with potential damages of at least $10 billion.
Maxim Healthcare Services Inc., which provides in-home health and nursing services, will pay $150 million to resolve criminal and civil probes of fraudulently overbilling federal and state governments.