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JPM reportedly to settle with FHFA for $4B

Oct. 18, 2013 4:10 PM ETJPMorgan Chase & Co. (JPM) StockJPMBy: Stephen Alpher, SA News Editor10 Comments
  • 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.

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