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FAQ on JPMorgan’s $13 billion in progress settlement

Neil Irwin – Washington Post [snipped]

  • What is JPMorgan Chase? – It’s the largest bank in the United States, with $2.4 trillion in assets. It is active in a wide variety of financial services businesses, including both what you might think of as ordinary consumer banking–taking deposits and offering car loans, mortgages, and credit cards–and more exotic Wall Street deal-making like helping large companies issue stocks or bonds. It has 255,000 employees, about the population of Orlando.
  • There are two suits that have actually been filed that would be settled as part of the $13 billion Justice Department deal, one by the regulator of Fannie Mae and Freddie Mac, the other by the New York Attorney General.  There are civil charges pending by the Justice Department that have not been filed, but presumably would be if the negotiations over a settlement break down.”


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