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JP Morgan agrees $5.1bn fine

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.

  • 26 Oct 2013
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