JPMorgan - government cases against firm 'unfair'

JPMorgan CEO Jamie Dimon said on Thursday that government legal cases, including those over mortgage securities the company settled for more than $13bn, were 'unfair'.

Reuters reports that Dimon, speaking on CNBC in a pre-recorded interview from Davos, Switzerland, said most of the government claims against the company were for dealings that took place at companies before JPMorgan bought them in the financial crisis.

'I think a lot of it was unfair, but I am not going to go into the details,' Dimon said in the television interview.

JPMorgan agreed last year to pay $13bn to settle multiple government claims over dealings in mortgage securities at JPMorgan and at two banks it took over during the crisis, Bear Stearns and Washington Mutual.

It also settled other assorted cases for about $7bn more.

To access the complete Reuters article hit the link below:

JPMorgan boss Dimon says government cases were unfair

Santander to boost equity at U.S. unit to back growth

image: © Steve Jurvetson

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts