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Wed October 23, 2013
Is The JPMorgan Settlement Unfair?
Originally published on Wed October 23, 2013 4:47 am
The details are still being worked out, but JPMorgan Chase and the Justice Department have agreed to a $13 billion settlement that will close out numerous lawsuits. About $3 billion will go to compensate investors who lost money on securities from banks that JPMorgan acquired during the financial crisis. Federal prosecutors have agreed not to seek punitive damages against JPMorgan for losses related to those deals.