Daily News: August 8, 2013

JPMorgan Faces Criminal Probe Tied to MBS Sales

Bloomberg reported that JPMorgan is under federal criminal investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded broke civil laws.

Bloomberg said investigators are seeking to wrap up years-long probes of abuses that fueled the housing collapse and led global credit markets to freeze in 2008. This week, the Justice Department and SEC sued Bank of America, accusing it of misleading investors in an $850 million mortgage-backed bond.

To read the entire Bloomberg story, click here.

Previously on abfjournal: SEC Charges Bank of America With Fraud in RMBS Offering, August 7, 2013