DigitalOlympus.com Comments on JPMorgan's Expected 13 Billion Mortgage Settlement Deal
Business news blog DigitalOlympus.com has commented on recent reuters.com news article about JPMorgan's 13 billion mortgage settlement agreement expected to be signed with the U.S. government on Tuesday.
Online, December 23, 2013 (Newswire.com) - Following a recent news article by Aruna Viswanatha and David Henry published on November 19 on reuters.com concerning JPMorgan Chase & Co which is expected to ink a $13 billion agreement with the U.S. government on Tuesday to settle allegations it inflated the quality of mortgages sold to stakeholders at some point in the housing boom.
According to the Reuters news story, if an agreement is reached between the biggest United States bank JPMorgan Chase and government agencies under pressure to hold financial institutions responsible for misconduct that led to the housing crisis, the civil settlement will indicate the end of weeks of uptight negotiations.
In response to the Reuters news piece, DigitalOlympus.com principal researcher Josh Cole suggested that government agencies can hire an independent firm to assist with corporate investigations in cases that involve misconduct or any other business related allegations.
In addition, the Reuters news story goes on to state that at the end of the settlement, JPMorgan still faces at least nine other government probes ranging from its employment practices in China to if it maneuvered the Libor standard interest rate. In mid-October,
JPMorgan Chase and government agencies led by the Justice Department had agreed to a provisional deal and have been ironing out details ever since.
"Some of the allegations JPMorgan is facing may end up in a courtroom," says DigitalOlympus.com spokesperson. "We'll advise the bank same thing we recommend to firms in similar situation, to hire a firm that specializes in litigation support services to better defend its case."
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