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JP Morgan Agrees to Record $13 Billion Settlement

JP Morgan Chase & Co. admitted it regularly overstated the quality of mortgages it sold to investors and agreed to pay a record $13 billion to resolve related charges, federal officials said on Tuesday.   The civil settlement would mark the end of weeks of tense negotiations between JPMorgan Chase, the largest U.S. bank, and government agencies that are under pressure to hold banks accountable for wrongdoing that led to the housing crisis.   For JP Morgan, the deal resolves...

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