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JPMorgan $13 Billion Mortgage Deal Expected Tuesday

wochit business
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November 19, 2013 AT 8:58 AM
JPMorgan Chase & Co. is expected on Tuesday to sign a $13 billion deal with the U.S. government to settle claims that the bank misrepresented the quality of the mortgages it sold to investors during the housing boom, two people familiar with the matter said. Earlier this week the bank and officials agreed to terms of a $4 billion relief package that is part of the broader deal, paving the way for the full announcement.