© 2024 Ideastream Public Media

1375 Euclid Avenue, Cleveland, Ohio 44115
(216) 916-6100 | (877) 399-3307

WKSU is a public media service licensed to Kent State University and operated by Ideastream Public Media.
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Weather-Related Closings and Delays

JPMorgan Likely To Settle Mortgage-Backed Securities Case

DAVID GREENE, HOST:

NPR's business news begins with a settlement in the making.

(SOUNDBITE OF MUSIC)

GREENE: JPMorgan Chase is negotiating an $11 billion settlement. The Wall Street Journal reports the firm would pay $7 billion in cash to regulators and $4 billion to consumers. JPMorgan is one of several large banks being investigated for its handling of mortgage-backed securities in the years leading up to the housing crisis.

The settlement would be a major victory for the federal government, after suffering years of criticism for its failure to hold Wall Street accountable for the crash. Transcript provided by NPR, Copyright NPR.