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JPMorgan Chase Faces Justice Department Probe

Aug 8, 2013
Originally published on August 8, 2013 4:09 am
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LINDA WERTHEIMER, HOST:

NPR's business news starts with questions for JPMorgan.

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WERTHEIMER: JPMorgan Chase revealed yesterday that it's facing criminal and civil investigations by the Justice Department. The bank says the investigations focus on sales of subprime mortgage securities in the years preceding the financial crisis.

The revelation comes in the wake of news that the DOJ is suing Bank of America for defrauding investors in mortgage-backed securities. Transcript provided by NPR, Copyright NPR.