Thursday, September 22, 2016

Chase officially satisfies $4 billion RMBS settlement consumer-relief requirement

In his ninth and final report, Joseph Smith, monitor of the JPMorgan Chase Residential Mortgage-Backed Securities Settlement, credited Chase with more than its required $4 billion of consumer relief obligation. The settlement dates all the way back to claims that Chase, Bear Stearns and Washington Mutual packaged and sold bad residential mortgage-backed securities to investors before the financial crisis.

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