People walking past reflected in JP Morgan sign
Media playback is unsupported on your device

JP Morgan agrees $5.1bn fine

26 October 2013 Last updated at 08:25 BST

JP Morgan has reached a $5.1bn (£3.2bn) settlement with the US Federal Housing Finance Agency relating to charges it misled investors during the housing crisis.

The settlement, the biggest ever by a US bank, is in response to claims it misled mortgage giants Fannie Mae and Freddie Mac during the housing boom.

A separate settlement with the US Justice Department is expected to be announced soon.

Mariko Oi reports.