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JP Morgan agrees record $13 billion settlement with DoJ

Settlement resolves civil claims over residential mortgage-backed securities

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The US Department of Justice (DoJ) has announced a $13 billion settlement with JP Morgan – the largest ever between the US government and a corporation.

The settlement resolves federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JP Morgan and the two companies it took over, Bear Stearns and Washington Mutual

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