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  • Morgan Stanley settles for $3.2 billion over 'deceptive' mortgage bond practices

    Morgan Stanley will hand out hundreds of millions of dollars in consumer relief and fork over hundreds of millions more to state governments as part of $3.2 billion settlement over its “deceptive” mortgage bond practices in the run-up to the financial crisis, the New York Attorney General’s Office said Thursday. Click the headline to read more.

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Settling MBS disputes could cost JPMorgan upwards of $7 billion

legal steps

According to CNBC, JPMorgan Chase (JPM) may pay anywhere from $3 billion to $7 billion to settle lingering issues over mortgage-backed securities sold to investors during the run-up to the financial crisis. CNBC explains:

The talks, which involve the Justice Department, the Department of Housing and Urban Development and the New York attorney general's office, continued on Tuesday without resulting in a final deal. The people briefed on the negotiations, who were not authorized to speak publicly, cautioned that terms were shifting and that the talks could fall apart.

Source: CNBC
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