JPMorgan's $13B settlement doesn't protect execs from criminal charges

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JPMorgan Chase & Co. execs could still be on the hook if the government decides to bring criminal charges against them, U.S. Attorney General Eric Holder noted in announcing a record $13 billion settlement of probes into the bank’s bundling of boom-era mortgages into securities sold to investors.

JPMorgan acknowledged in the settlement that it regularly misrepresented to investors in residential mortgage-backed securities that mortgages bundled into those investments complied with underwriting guidelines, Bloomberg News reports, citing a statement by New York Attorney General Eric Schneiderman. Source: bloomberg.com