JPMorgan reaches deal with SEC staff on two mortgage probes
November 9, 2012 1:42 AM EST
JPMorgan Chase & Co has reached an agreement in principle with the staff of the U.S. Securities and Exchange Commission to resolve two previously disclosed investigations related to mortgage-backed securities, the company disclosed in a quarterly filing on Thursday.
The company did not say how much the settlements could cost. One of the cases is related to disclosures by JPMorgan of delinquencies involving one mortgage-backed securitization. The other case is over multiple securitizations done by Bear Stearns, the failed investment bank that JPMorgan took over in March 2008 during the financial crisis.
The company faces numerous other government investigations and private lawsuits stemming from the financial crisis and from its $6.2 billion trading loss this year on credit derivatives. (Reporting by David Henry in New York; Editing by Gerald E. McCormick.)
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