{"id":5565,"date":"2014-02-10T00:00:00","date_gmt":"2014-02-10T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/02\/13b_mbs_fraud_settlement_betwe"},"modified":"2020-08-31T10:48:25","modified_gmt":"2020-08-31T15:48:25","slug":"13b-mbs-fraud-settlement-betwe","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/13b-mbs-fraud-settlement-betwe\/","title":{"rendered":"$13B MBS Fraud Settlement Between JPMorgan and the US is Under Dispute in New Securities Lawsuit"},"content":{"rendered":"

Better Markets, a non-profit group, is suing the US Department of Justice to block the $13 billion mortgage-backed securities<\/a>\u00a0fraud settlement reached between the federal government and JP Morgan Chase (JPM)<\/a>. The group wants the deal to undergo judicial review.<\/p>\n

The settlement resolves DOJ mortgage bond claims with a $2 billion civil penalty and includes $4 billion of consumer relief, another $4 billion to settle claims related to Freddie Mac and Fannie Mae, and another $1.4 billion to settle a National Credit Union Administration-instigated securities case. JPMorgan sold the mortgage bonds in question in the years heading into the housing market collapse. The loans that were involved lost value or defaulted when the bubble burst.<\/p>\n

As part of the agreement, the firm acknowledged that it made \u201cserious misrepresentations\u201d about the MBS to investors. While the deal doesn\u2019t release the bank from criminal liability, it grants civil immunity for its purported actions. Now, Better Markets, which describes itself as a \u201cWall Street\u201d watchdog, is saying that the record settlement between the US government and JP Morgan was \u201cunlawful\u201d because a court did not review the deal.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Better Markets, a non-profit group, is suing the US Department of Justice to block the $13 billion mortgage-backed securities\u00a0fraud settlement reached between the federal government and JP Morgan Chase (JPM). The group wants the deal to undergo judicial review. The settlement resolves DOJ mortgage bond claims with a $2 billion civil penalty and includes $4 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3958,3757],"tags":[],"class_list":["post-5565","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-jp-morgan-chase","category-mortgagebacked-securities"],"yoast_head":"\n$13B Fraud Settlement Between JPMorgan and the US Under Dispute | Investor Lawyers<\/title>\n<meta name=\"description\" content=\"Better Markets is suing to block the $13 billion mortgage-backed securities\u00a0fraud settlement reached between the federal government and JP Morgan Chase\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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