JPMorgan faces criminal and civil probes over mortgages - FORECLOSURE FRAUD

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JPMorgan faces criminal and civil probes over mortgages

JPMorgan faces criminal and civil probes over mortgages

Reuters-

JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Wednesday it is being investigated by civil and criminal divisions of the U.S. Department of Justice over offerings of mortgage-backed securities.

The civil division gave the company a notice in May that it had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during 2005 to 2007, JPMorgan said.

[REUTERS]

image: Reuters

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