Daily News: February 12, 2014

NYT: Justice Department Sued Over $13B JPMorgan Settlement

The New York Times reported that a lawsuit filed by a nonprofit group against the Justice Department claims crucial details of the $13 billion settlement between JPMorgan Chase and the government were for the government’s eyes only.

The Times said further the lawsuit, filed by Better Markets, challenged the constitutionality of the settlement, which stemmed from accusations JPMorgan overstated the quality of mortgage securities it sold before the financial crisis, arguing the Justice Department violated the separation of powers when it “unilaterally” struck the deal without a judge’s blessing.

To read the entire Times article, click here.