The
serial financial offender JP Morgan is still trying to negotiate its way out of criminal liability for its misdeeds over the last decade, but finally the DOJ is through playing nice with criminals and while proposing a US record fine of
$13 Billion, they refused to allow JP Morgan to do the standard "Admit No Guilt" settlement, and the DOJ may charge some of the big fish in the firm with crimes.
WASHINGTON, Oct 19 (Reuters) - JPMorgan Chase & Co has reached a
tentative $13 billion agreement with the U.S. Justice Department to
settle a range of mortgage issues, a source familiar with the talks said
on Saturday.
The tentative deal does not release the bank from criminal liability,
a factor that had been a major sticking point in the discussions, the
source said.
As part of the deal, the bank will continue to cooperate in criminal
inquiries into certain individuals involved in the conduct at issue, the
source, who declined to be identified.
JPMorgan is seeking a single settlement to resolve all claims from
federal and state agencies over its mortgage-related liabilities
stemming from the bust in house prices.
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