Nov. 18 (UPI) -- JP Morgan aims to make good with its mortgage-backed securities settlements. Within the record $13 billion settlement JP Morgan is to pay to the government, the bank will offer a $4 billion consumer relief package, as reported Monday.
The bank announced Friday another $4.5 billion deal with 21 private investors, unrelated to the government agreement. JP Morgan announced this as an "important step" in clearing up MBS-related matters. This settlement addressed MBS trusts sold by Bear Stearns, Chase and JPMorgan before the financial crisis, but not those sold by Washington Mutual.