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JPMorgan deal 'preposterous': Former prosectutor

Jamie Dimon

JPMorgan's tentative $13 billion settlement with the Justice Department, the New York attorney general, and the Federal Housing Finance Agency over financial crisis-era mortgage loans is a "terrible deal," former federal and state prosecutor Jacob Frenkel told CNBC on Monday.

FHFA seeks $6bn from BofA for mortgage sales

Money On Hook

A U.S. housing regulator is seeking at least $6bn from Bank of America to settle civil claims the firm sold faulty mortgage bonds to government-backed finance companies Fannie Mae and Freddie Mac, according to a person with direct knowledge of the discussions

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FEATURED

George Osborne In Thought

Weakening UK trade puts the brakes on GDP growth

The UK economy has slowed after poor overseas trade figures put a record drag on growth, leaving household spending to drive the recovery and casting further doubt on George Osborne’s hopes that strong tax receipts will help him hit ambitious budget targets.