October 26, 2013 1:09 PM

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JP Morgan agrees to pay $5.1 bn to US regulator

The investment bank JP Morgan has agreed to pay 5.1 billion Dollars to the US mortgage regulator, over the banks sale of risky mortgage bank securities. They were a key factor in the collapse of the US Housing market in 2007. JP Morgan is still trying to settle with the justice department over similar claims. It is the biggest settlement ever by a US bank. In a statement JP Morgan said the settlement resolves the biggest case against the firm relating to mortgage-backed securities.

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