JPMorgan pays out over mortgage lending

The largest bank in the US, JPMorgan Chase, will pay $614m and improve mortgage lending procedures under a new deal.

JPMorgan pays out over mortgage lending
Wed, 05 Feb, 2014 - 08:36

The largest bank in the US, JPMorgan Chase, will pay $614m and improve mortgage lending procedures under a new deal.

The agreement is to settle claims it approved thousands of unqualified home mortgage loans for government insurance and refinancing since 2002, costing the government millions of dollars when the loans defaulted.

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