
JP Morgan Chase agreed to pay more than $1 billion to five states to settle litigation involving allegations of misrepresentations in the packaging, marketing, sale and issuance of residential mortgage-backed securities by JP Morgan, Bear Stearns and Washington Mutual. The five states were California ($298.9 million), Delaware ($19.7 million), Illinois ($100 million), Massachusetts ($34.4 million) and New York ($613 million). This was part of a larger $13 billion settlement involving the federal government; For more info visit https://www.justice.gov/opa/pr/justice-department-federal-and-state-partners-secure-record-13-billion-global-settlement