FHFA Said to Seek $6 Billion Minimum in JPMorgan Talks
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A U.S. housing regulator is seeking at least $6 billion from JPMorgan Chase & Co. to settle civil claims the bank sold bad mortgage bonds to government-backed finance companies Fannie Mae and Freddie Mac, according to a person briefed on the matter.
JPMorgan, the biggest U.S. bank by assets, is fighting the Federal Housing Finance Agency’s latest request, said the person, who asked not to be identified because the talks are private. The lawsuit is scheduled to go to trial in June, according to a filing in federal court in Manhattan.