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Source: JPMorgan, gov't in $13B settlement

2:29 AM, Nov 19, 2013   |    comments
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WASHINGTON (AP) -- A person close to the talks says the Justice Department and JPMorgan Chase & Co. have reached agreement on all issues in a $13 billion settlement of a civil inquiry into the company's sales of low-quality mortgage-backed securities that collapsed in value in the financial crisis.

The person close to the talks said late Monday the documents spelling out the agreement could be signed as early as Tuesday.

The person spoke on condition of anonymity because the deal has yet to be finalized.

The settlement is the largest ever by the U.S. government against a corporation.

Associated Press

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