Settling MBS disputes could cost JPMorgan upwards of $7 billion
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.