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JP Morgan settlement


20/11/2013

By Daniel Hunter

JP Morgan Chase have agreed a record $13 billion (£8 billion) settlement with US authorities for misleading investors during the housing crisis.

It is the largest settlement ever between the US government and a corporation.

The bank acknowledged it made "serious misrepresentations to the public", but said it did not violate US laws.

"We are pleased to have concluded this extensive agreement," said JP Morgan boss Jamie Dimon in a statement.

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