Tentative $13B Deal With JPMorgan - 47 ABC - Delmarva's Choice

Tentative $13B Deal With JPMorgan

Posted: Updated:

WASHINGTON (AP) - A person familiar with negotiations between the federal government and JPMorgan Chase & Co. says the bank has tentatively agreed to pay $13 billion to settle allegations surrounding the quality of mortgage-backed securities it sold in the run-up to the 2008 financial crisis.

The person tells The Associated Press that the tentative settlement was negotiated Friday night. The person spoke on condition of anonymity because the deal has not been made final.

The person says the tentative agreement does not extend to a criminal investigation of the bank's conduct that is being handled by federal prosecutors in Sacramento, Calif.

The person says those negotiating the deal are Attorney General Eric Holder, Associate Attorney General Tony West, J.P. Morgan CEO Jamie Dimon and the bank's general counsel, Stephen Cutler.

 

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • ContestsMore>>

  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The 47 ABC "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
  • Free Tuition Contest

    Free Tuition Contest

  • Local NewsDelmarva HeadlinesMore>>

  • Mother And Daughter Run Over By Car In Neighborhood

    Mother And Daughter Run Over By Car In Neighborhood

    Wednesday, September 17 2014 12:01 AM EDT2014-09-17 04:01:58 GMT
    LEWES, Del. - A frightening turn of events in a Lewes neighborhood Tuesday afternoon as a car sped into a front yard where a woman was outside with her young children.More >>
    LEWES, Del. - A frightening turn of events in a Lewes neighborhood Tuesday afternoon as a car sped into a front yard where a woman was outside with her young children.More >>
  • Troop 176 Performs Flag Retirement Ceremony

    Troop 176 Performs Flag Retirement Ceremony

    Tuesday, September 16 2014 11:13 PM EDT2014-09-17 03:13:54 GMT
    SALISBURY, Md.- Salisbury's Boy Scout Troop 176 conducted a flag retirement ceremony in honor of the 200th anniversary of Francis Scott Key's poem The Defense of Fort McHenryMore >>
    SALISBURY, Md.- Salisbury's Boy Scout Troop 176 conducted a flag retirement ceremony in honor of the 200th anniversary of Francis Scott Key's poem The Defense of Fort McHenryMore >>
  • Family Member Reflects: Loved Ones Lost In Accomack Crash

    Family Member Reflects: Loved Ones Lost In Accomack Crash

    Tuesday, September 16 2014 10:54 PM EDT2014-09-17 02:54:55 GMT
    47ABC- Glass still litters the intersection of Lankford Hwy and First Street in Accomac County... Alfonso Wilson says, "When I got there they had covered the car with a white sheet."Alfonso Wilson's sisterMore >>
    47ABC- Glass still litters the intersection of Lankford Hwy and First Street in Accomac County... Alfonso Wilson says, "When I got there they had covered the car with a white sheet."Alfonso Wilson's sisterMore >>
  • Most Popular StoriesMost Popular StoriesMore>>

  • Homeless Sex Offenders

    Homeless Sex Offenders

    DELAWARE - Individuals featured in this slideshow are NOT wanted. They are sex offenders who have registered with Delaware State Police as homeless. These are public notifications.More >>
    DELAWARE - Individuals featured in this slideshow are NOT wanted. They are sex offenders who have registered with Delaware State Police as homeless. These are public notifications.More >>
  • Wicomico's 10 Most Wanted Fugitives - Part 1

    Wicomico's 10 Most Wanted Fugitives - Part 1

    Monday, September 15 2014 6:32 PM EDT2014-09-15 22:32:09 GMT
    WICOMICO CO., Md. - The suspects profiled on 47 ABC's special report "Wicomico's 10 Most Wanted Fugitives" make that list primarily because of how long they've been on the run.More >>
    WICOMICO CO., Md. - The suspects profiled on 47 ABC's special report "Wicomico's 10 Most Wanted Fugitives" make that list primarily because of how long they've been on the run. "Many of these warrantsMore >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.