JPMorgan to Pay Record $13 Billion in Fines, Penalties

JPMorgan Chase & Co. (JPM) has reached a tentative resolution of all civil mortgage-bond related matters with the U.S. Department of Justice under which the nation’s largest bank will pay a record $13 billion, a person familiar with the settlement talks said. The amount increased from $11 billion during negotiations last night, the person said. The deal includes $4 billion for unspecified consumer relief and $9 billion in fines and other payments, another person familiar with the matter said.