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Big Bank to be Penalized Big Dollars

The largest bank in the United States has tentatively agreed to pay $13 billion in fines, penalties and consumer relief to settle several investigations into bad mortgage loans it allegedly made. JP Morgan Chase and the U.S. Justice Department still have to finalize the deal, which also requires the bank to cooperate with a continuing criminal probe into the bank's mortgage-backed securities in the run-up to the 2008 financial meltdown. The settlement would represent the largest penalty ...

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