JPMorgan Could Pay $11 Billion To Settle Mortgage Probes: ALBANY, N.Y. (AP) — An $11 billion national settlement is under discussion to resolve claims over JPMorgan's handling of mortgage-backed securities in the run-up to the recession, said a government official familiar with ongoing negotiations among bank, federal and state officials. The Justice Department is taking the lead on the settlement, which would include $7 billion in cash and $4 billion in consumer relief, though the deal also would include states with claims against the bank, the official said. The official spoke Wednesday with The Associated Press on condition of anonymity because a settlement hasn't been reached and the person wasn't authorized to discuss it publicly. The government has continued investigating JPMorgan over mortgage-backed securities, which lost value after a bubble in the housing market burst and helped spur the financial crisis. The company declined to comment Wednesday. In January 2012, a task force of...
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