JPMorgan to pay out US$4.5b in mortgage security deal

US bank JPMorgan Chase said on Friday it had agreed to pay US$4.5 billion to settle claims by investors who lost money on mortgage-backed securities before the collapse of the American housing market.

via Business feed http://www.scmp.com/business/banking-finance/article/1357734/jpmorgan-pay-out-us45b-mortgage-security-deal