4:59am

Wed August 28, 2013
Business

JPMorgan Chase In Negotiations With Federal Government

Originally published on Wed August 28, 2013 12:33 pm

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with settling suits for big money.

U.S. authorities are pressing JPMorgan Chase to settle lawsuits over bonds backed by subprime mortgages. And the Federal Housing Finance Agency is looking in the range of $6 billion to settle those suits.

JPMorgan Chase is still negotiating with the government. But here's another eye-popping number: The bank has spent about five billion for legal costs in each of the past two years. Transcript provided by NPR, Copyright NPR.