Looks like the Feds are about to make another deal:
JPMorgan Chase & Co. and the Justice Department have reached a tentative $13-billion (U.S.) settlement over the bank’s questionable mortgage practices leading up to the financial crisis, people briefed on the talks said Saturday. It would be a record penalty that would cap weeks of heated negotiating and underscore the extent of the bank’s legal woes.Link
Follow me across the fish guts for the difference between this deal and most the Feds have made lately...
While the deal would put those civil cases to rest, it would not save JPMorgan from a parallel criminal inquiry from federal prosecutors in California, the people briefed on the talks said. Under the terms of the preliminary deal, the people said, the bank would also have to assist prosecutors with an investigation into former employees who helped create the mortgage investments.I don't know why that investigation apparently only targets "former" employess, but something is better than nothing.