Tags: subprime | mortgages | JPMorgan | regulators

JPMorgan to Face New Suit by Prosecutors Over Mortgage Securities

Monday, 23 Sep 2013 03:28 PM

U.S. prosecutors in California are planning to announce charges against JPMorgan Chase & Co. as early as Tuesday for activities related to the bank's pre-crisis mortgage-backed securities issuance, sources familiar with the matter said.

The bank disclosed in August it was under parallel civil and criminal investigation by authorities in the U.S. Attorney's Office for the Eastern District of California.

The firm said it had received a notice from the civil division in May that the division had concluded the bank violated federal securities laws in connection with subprime and other risky mortgage securities it sold between 2005 and 2007.

A spokesman for JPMorgan, Brian Marchiony, declined to comment.

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U.S. prosecutors in California are planning to announce charges against JPMorgan Chase & Co. as early as Tuesday for activities related to the bank's pre-crisis mortgage-backed securities issuance, sources familiar with the matter said.
subprime,mortgages,JPMorgan,regulators
109
2013-28-23
Monday, 23 Sep 2013 03:28 PM
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