real-time news and commentary for investors
Friday, Oct 18
JPM reportedly to settle with FHFA for $4B
- The bank has reached a tentative $4B settlement with the FHFA, reports Dow Jones, over claims it misled Fannie and Freddie over mortgages it sold to them. That amount would be less than the $6M originally sought by the housing agency.
- The settlement would be rolled into the global deal pending with the DOJ - which reportedly could reach $11B.
- JPM bounced a bit as the news hit, ending the session about flat.