JPMorgan reaches $4.5 billion settlement in latest mortgage-related deal

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JPMorgan Chase has agreed to shell out $4.5 billion to institutional investors to settle claims that the bank, and Bear Stearns, which JPMorgan acquired, sold them shoddy mortgage bonds from 2005 to 2008, The New York Times reports.

The payout is the latest announced by JPMorgan, which has been embroiled in investigations and lawsuits stemming from housing boom-era mortgage practices. Recently, JPMorgan reached a tentative $13 billion settlement with the U.S. Justice Department over those practices.

Source: The New York Times