Reginal Thomas
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Reginal Thomas in reginal thomas,

JP Morgan Is Opening Up Their Wallet To Pay Another Huge Settlement

JP Morgan Chase & Co. (NYSE: JPM) has agreed to pay $5.1 billion to settle Federal Housing Finance Agency claims in connection with loads and mortgage backed securities they sold to Fannie Mae and Freddie Mac which also lead to a $13 billion settlement the bank settled with the government weeks ago. In the deal $4 billion goes towards ending the FHFA's 2011 lawsuit against JP Morgan accusing the firm of selling Fannie Mae and Freddie Mac faulty mortgage bonds. The other $1.1 billion settles claims that the company sold defective loans that they included into their own securities. Every week its as if a new story hits the news wire in which JP Morgan is paying some off for poor practices how do you think this affects the way the public views JP Morgan Chase?