JPMorgan Reaches Agreement to Settle SEC Mortgage Probes
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JPMorgan Chase & Co., the biggest U.S. bank, reached a settlement with regulators to resolve claims tied to its home-loan business and said it would buy back as much as $3 billion of shares.
The agreement in principle with the U.S. Securities and Exchange Commission covers two investigations related to mortgage-backed bonds handled by JPMorgan and Bear Stearns Cos., which the bank acquired in 2008, New York-based JPMorgan said today in a filing.