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Settlement News from Wall Street Banks

  1. JPMorgan Chase & Co. (NYSE:JPM) will pay the U.S. government $614 million and agree to install controls to improve better lending practices in the future stemming from defective mortgage origination allegation dating back to 2002.
  2. Morgan Stanley (NYSE:MS) will pay $1.25 billion to the Federal Housing Finance Agency to resolve allegations stemming from crappy mortgage backed securities sold to GSEs during the housing bubble.