JPMorgan reaches $4.5bn settlement

Updated
JP Morgan Chase
JP Morgan Chase

JPMorgan Chase says it has reached a 4.5 billion US dollar (£2.8 billion) settlement with investors over mortgage-backed securities.

The settlement covers 21 major institutional investors. The mortgage-backed securities were issued by JPMorgan and Bear Stearns between 2005 and 2008. New York-based JPMorgan acquired the failing investment bank Bear Stearns in March 2008.
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