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JPMorgan Chase to face MBS charges

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JPMorgan Chase (JPM) will be charged by federal prosecutors in California in connection with sales of mortgage-backed securities, Bloomberg reported this week. 

The bank said last month in a regulatory filing that the U.S. Attorney’s office in Sacramento had parallel civil and criminal investigations under way. Investigators have already concluded that it broke civil laws and were examining whether criminal laws were broken, according to the filing.

Source: Bloomberg
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