Litigation » Better Than A Wall Street Bonus

Better Than A Wall Street Bonus

iStock_000023053613 JPMorgan & Tree 420 tk2

March 13, 2014

A former J.P. Morgan Chase & Co. employee who tipped the feds that his firm was falsely certifying FHA and Dept. Of Veterans Affairs loans received $63.9 million for his efforts. J.P. Morgan agreed to pay the $614 million to settle the case with the agencies. The bank admitted that it approved thousands of FHA loans and hundreds of VA loans that didn’t meet underwriting requirements, and agreed to enhance quality control as part of the settlement.

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