More on the JPMorgan settlement

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

JPMorgan (JPM) is paying $4.5B to to 21 institutional investors to settle claims related to mortgage-backed securities issued by the bank and acquired Bear Stearns from 2005-2008. The investors had been seeking $5.75B to settle claims on securities issued by the aforementioned banks and Washington Mutual.

WaMu-related claims aren't part of the deal, and JPMorgan is arguing it isn't responsible for any wrongdoings committed by WaMu before regulators seized control of it.

BNY and other trustees overseeing the securities still have to agree to the deal, and court approval is also needed.

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