JPMorgan Chase Agrees To Pay $5.1 Billion To Feds

By Melissa Block,

Dan Bobkoff

Published October 25, 2013 at 6:26 PM EDT

JPMorgan Chase agreed pay $5.1 billion to settle litigation over mortgage assets sold during the housing bubble. The deal, announced late Friday afternoon, is to resolve claims the company misled Fannie Mae and Freddie Mac before the housing market crashed. It is part of a tentative $13 billion deal the company is trying to reach with federal and state agencies over its mortgage liabilities.

Melissa Block

As special correspondent and guest host of NPR's news programs, Melissa Block brings her signature combination of warmth and incisive reporting. Her work over the decades has earned her journalism's highest honors, and has made her one of NPR's most familiar and beloved voices.

See stories by Melissa Block

Dan Bobkoff

See stories by Dan Bobkoff

WRVO is at a critical moment.

Recent cuts to federal funding are challenging our mission to serve central and upstate New York with trusted journalism, vital local coverage, and the diverse programming that informs and connects our communities. This is the moment to join our community of supporters and help keep journalists on the ground, asking hard questions that matter to our region.

Stand with public media and make your gift today—not just for yourself, but for all who depend on WRVO as a trusted resource and civic cornerstone in central and upstate New York.

Support WRVO now