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Economy & Business

JPMorgan Likely To Settle Mortgage-Backed Securities Case

DAVID GREENE, HOST:

NPR's business news begins with a settlement in the making.

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GREENE: JPMorgan Chase is negotiating an $11 billion settlement. The Wall Street Journal reports the firm would pay $7 billion in cash to regulators and $4 billion to consumers. JPMorgan is one of several large banks being investigated for its handling of mortgage-backed securities in the years leading up to the housing crisis.

The settlement would be a major victory for the federal government, after suffering years of criticism for its failure to hold Wall Street accountable for the crash. Transcript provided by NPR, Copyright NPR.