The American bank JP Morgan has agreed to a record settlement of 13 billion dollars with US regulators for misleading investors during the housing crisis. The bank has been under investigation for selling risky mortgage securities to investors who were unaware that the securities often contained faulty mortgage products. It is the largest settlement ever between a corporation and the US government which says such behaviour helped pave the wave for the financial crisis five years ago.The bank acknowledged it made serious misrepresentations to the public, but said it did not violate US laws. Although the settlement effectively concludes the US government's civil investigation into the bank, a criminal investigation by the Department of Justice is ongoing.