ALBANY, N.Y. — JPMorgan Chase & Co. has reached a record US$13 billion settlement with federal and state authorities, resolving claims over the bank’s sales of mortgage-backed securities that collapsed during the U.S. housing crisis.
It is the largest settlement ever between the Department of Justice and a corporation and marks a key chapter for the crisis.
The government’s largest effort to compensate victims of the banks’ foreclosure practices is finally sputtering to an end. But for most of those eligible – nearly three million borrowers – it won’t be much of an ending: they’ll be receiving a check for $300 to $500. Payments to Homeowners
As I sated yesterday, it was impossible to predict which way the crisis would head. Today we have the possibility of good news.An Agreement on the Settlement of the Crisis in Ukraine was signed by President Viktor Yanukovych and the opposition calls.Treaty Synopsis