JPMorgan Chase is seeking a global settlement with U.S. government authorities probing the company’s mortgage business in multiple jurisdictions, Reuters reports, citing an anonymous source.
Federal prosecutors held off on plans to file a lawsuit in California Tuesday over the sale of bonds backed by subprime mortgages and other risky home loans between 2005 and 2007, Reuters said. The lender said to be looking for a global settlement that would also cover investigations of practices it inherited from other banks during the financial crisis. Source: reuters.com.
