Daily News: September 26, 2013

JPMorgan Said to Be Discussing $11B Deal

>em> Bloomberg reported, according to a person familiar with the talks, that JPMorgan Chase’s negotiations with federal and state authorities to resolve a series of investigations tied to mortgage bonds are focusing on a potential $11 billion figure, including $4 billion for consumer relief.

>em> Bloomberg said those involved in the talks include the Justice Department, the Department of Housing and Urban Development and the New York Attorney General, who is co-chairman of a federal and state working group on residential mortgage-backed securities.

>em> Bloomberg noted at the early stages of the negotiations this week, the company was proposing a settlement of $3 billion to $4 billion, but these numbers were rejected by the government.

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