WASHINGTON: JPMorgan Chase & Co has reached a tentative US$13bil deal with the US Justice Department and other government agencies to settle investigations into bad mortgage loans the bank sold to investors before the financial crisis, a source familiar with the talks said.
The tentative deal, the largest ever between the US government and a single company, does not release the bank from criminal liability for some of the mortgages it packaged into bonds and sold to investors.
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