General Discussion

Cali_Democrat

(30,439 posts) Wed Aug 7, 2013, 05:59 PM Aug 2013

JP Morgan Chase (the nation's largest bank) is being investigated by the DOJ over mortgages

(Reuters) - JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Wednesday it is being investigated by civil and criminal divisions of the U.S. Department of Justice over offerings of mortgage-backed securities.

The civil division gave the company a notice in May that it had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during 2005 to 2007, JPMorgan said.

The company made the disclosures in a quarterly filing with the Securities and Exchange Commission.

JPMorgan also raised its estimate of possible legal losses in excess of reserves to $6.8 billion at the end of June from $6 billion three months earlier.

http://www.huffingtonpost.com/2013/08/07/jpmorgan-doj-investigation_n_3721741.html

2 replies

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JP Morgan Chase (the nation's largest bank) is being investigated by the DOJ over mortgages (Original Post) Cali_Democrat Aug 2013 OP

This is Obama's fault. nt Robb Aug 2013 #1

Yes, it is - but I doubt that folks notice. Tx4obama Aug 2013 #2

Robb

(39,665 posts)

1. This is Obama's fault. nt

Reply to Cali_Democrat (Original post)

Wed Aug 7, 2013, 07:15 PM

Aug 2013

Tx4obama

(36,974 posts)

2. Yes, it is - but I doubt that folks notice.

Reply to Robb (Reply #1)

Thu Aug 22, 2013, 06:53 PM

Aug 2013

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