J.P. Morgan Nears $13 Billion Deal

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jp-morganAnd you thought you had a big mortgage. J.P. Morgan Chase & Co. is nearing a deal on all civil mortgage-bond-related matters with the Department of Justice, a source told The Washington Post.

The amount of the settlement grew from $11 billion to a record $13 billion during Friday night negotiations, but does not yet include a release of potential criminal liability for the bank.

The deal will likely require J.P. Morgan to cooperate in criminal investigations of employees tied to corrupt mortgage practices. Read more at The Washington Post.

{Andy Heller-Matzav.com Newscenter}

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