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    JP Morgan agrees to $5.1bn fine with mortgage regulator
    Deal settles lawsuit brought by Federal Housing Finance Agency - but has still to agree on bond sales fine

    The JP Morgan headquarters in New York. Photograph: Eduardo Munoz/Reuters
    JP Morgan reached a $5.1bn (£3.2bn) settlement with the US mortgage company regulator on Friday as the bank continues to negotiate with the justice department over what is expected to be an even larger fine related to bond sales.

    The deal settles a lawsuit brought by Federal Housing Finance Agency (FHFA), which regulates government-backed loan firms Fannie Mae and Freddie Mac. The FHFA alleged JP Morgan misled Fannie and Freddie about the quality of mortgages it sold to them during the housing boom. The settlement included $4bn to end a lawsuit over securities disclosures and $1.1bn covering mortgage repurchases.

    Full story Guardian.

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