JPMorgan's (JPM) share of the $8.5B settlement over foreclosure abuse between 10 banks and...

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

JPMorgan's (JPM) share of the $8.5B settlement over foreclosure abuse between 10 banks and regulators is $2B, with the company saying it will take a $700M pretax charge in its Q4 results. The charge shows how banks pushed to close the deal so they could include the costs in their upcoming reports using "subsequent-events" accounting rules, allowing them to start 2013 with a cleaner slate.