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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