- 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.
- Previous: JPMorgan agrees to $4.5B settlement
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