JPMorgan Penalized $13 Billion

JPMorgan Chase recently reached a tentative $13 billion settlement with the Department of Justice for selling the faulty mortgage securities that led to the financial crisis. 

If finalized, this would be the largest penalty payment ever made by a single company. 

Interestingly, JPMorgan and its executives will still be at risk of criminal prosecution after the settlement. This was a huge concession by the bank. 

Sadly, only about $4 billion of the settlement will go toward relieving current struggling homeowners. 

Read more here: http://www.dallasnews.com/news/local-news/20131019-jpmorgan-said-to-be-nearing-record-13-billion-settlement-over-mortgage-practices.ece

If you are a struggling homeowner, contact a mortgage mediation attorney who can protect your rights and help you either save your home or establish greater financial stability outside of your home.

The following two tabs change content below.

• Bio
• Latest Posts

Kevin Fallon McCarthy

Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.

Latest posts by Kevin Fallon McCarthy (see all)

• Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
• CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
• Rise of the Jumbo Student Loans - March 17, 2018
• Credit Card Market: Now and Then - February 23, 2018
• Make Your Credit Cards Work for You - January 23, 2018