JPMorgan Chase To Pay $614M Over Mortgage Lending - Presented by: The Aol. On Network

J.P. Morgan Chase has agreed to pay $614 million to settle a New York lawsuit over its mortgage lending practices. Federal authorities in Manhattan say the company accepted responsibility for improperly approving thousands of residential home mortgage loans for government insurance and refinancing. They say the company has also agreed to reform practices after routinely breaking rules in federally funded programs since January 2002.

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