October 21, 2014
NEW YORK (AP) - JPMorgan Chase & Co. says it has reached a $4.5 billion settlement with investors over mortgage-backed securities.
The settlement was announced Friday and includes 21 major institutional investors. The mortgage-backed securities were issued by JPMorgan and Bear Stearns between 2005 and 2008. JPMorgan acquired the failing investment bank Bear Stearns in March 2008.
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