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NCUA Reportedly Inks JP Morgan Settlement

The NCUA would not confirm an Oct. 21 report that it has agreed to a tentative settlement with JP Morgan over mortgage-backed securities sold to failed corporate credit unions. The NCUA filed suit against JP Morgan Securities in June 2011, seeking to recover more than $800 million in losses to...

By Heather Anderson | Updated on October 30, 2013

The NCUA would not confirm an Oct. 21 report that it has agreed to a tentative settlement with JP Morgan over mortgage-backed securities sold to failed corporate credit unions. The NCUA filed suit against JP Morgan Securities in June 2011, seeking to recover more than $800 million in losses to corporate credit unions.

Public Affairs Specialist John Fairbanks would not verify the accuracy of the report published Oct. 19 in the Wall Street Journal, nor would he provide any details.

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