Arab Today, arab today jpmorgan chase to pay 297 mn for us misdeeds
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Arab Today, arab today
Arab Today, arab today

JPMorgan Chase to pay $297 mn for US misdeeds

Arab Today, arab today

Arab Today, arab today JPMorgan Chase to pay $297 mn for US misdeeds

New York - AFP

JPMorgan Chase said Monday it had agreed to pay $297 millions to the US Securities and Exchange Commission to settle a dispute over sale of mortgage-backed securities. Most of the punishable activity is attributed to Bear Stearns, the New York investment bank that JP Morgan bought urgently in 2008 in a deal organized by the Federal Reserve to prevent the imploding investment bank\'s losses from pulling down other banks. Bear Stearns collapsed in 2007-2008, the first major casualty of the financial crash that was rooted in the imploding housing sector.

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