JPMorgan settles with the SEC for $153.6 million

A New York federal judge approved a $153.6 million settlement by JP Morgan Chase & Co. of allegations by the U.S. Securities and Exchange Commission that the bank misled investors in a mortgage securities transaction just as the housing market was starting to plummet. JPMorgan didn’t admit or deny allegations in the complaint.   It will pay a civil penalty of $133 million, plus $18.6 million repayment of its profits and $2 million in … [Read more...]