National News

Nov 15, 2013 5:19 PM by Associated Press

JPMorgan Chase reaches $4.5B settlement

NEW YORK (AP) - JPMorgan Chase & Co. says it has reached a $4.5 billion settlement with investors over mortgage-backed securities.

The settlement was announced Friday and includes 21 major institutional investors. The mortgage-backed securities were issued by JPMorgan and Bear Stearns between 2005 and 2008. JPMorgan acquired the failing investment bank Bear Stearns in March 2008.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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