WASHINGTON, D.C.: Banking giant JPMorgan Chase has reached a tentative agreement to pay a record $13 billion fine to the Justice Department to settle probes into its residential mortgage-backed securities, US media reported.
Citing sources familiar with the decision, The Wall Street Journal newspaper reported in its online edition on Saturday (Sunday in Manila) that the deal was hashed out during a phone call on Friday with US Attorney General Eric Holder, his deputy Tony West, and JPMorgan’s top lawyer Stephen Cutler.
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