Daily News: November 7, 2012

WSJ: J.P. Morgan Nears SEC Settlement

The Wall Street Journal reported that J.P. Morgan Chase is close to a settlement with the SEC that would end one probe into how the company’s Bear Stearns unit packaged and sold home loans to investors, citing people familiar with the case.

The article said J.P. Morgan’s payment isn’t expected to exceed the $550 million paid in 2010 by Goldman Sachs to settle claims by the SEC that it misled investors.

The WSJ added that J.P. Morgan faces other probes and lawsuits relating to crisis-era behavior.

To read the full WSJ article, click here.

Previously on abfjournal.com:

A.G. Sues JPMorgan for Fraudulent RMBS Promotions, Wednesday, October 03, 2012