JPMorgan to pay up to $11bn to resolve mortgage bonds probes

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JPMorgan's negotiations with federal and state authorities to resolve a series of investigations tied to mortgage bonds are focusing on a potential $11bn figure, including $4bn for consumer relief, a person familiar with the talks said.

Bloomberg reports that the amount isn’t final, said the person, who asked not to be identified because the negotiations aren’t public. Those involved in the talks include the Justice Department, the Department of Housing and Urban Development and New York Attorney General Eric Schneiderman, who is co-chairman of a federal and state working group on residential mortgage-backed securities.

While an accord could be reached as soon as today, the talks are still fluid and the size of the settlement keeps changing, according to another person familiar with the matter. The people said they weren’t sure which claims may be resolved.

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