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REPORT: JPMorgan Could Shell Out Up To $11 Billion For A National Mortgage-Backed Security Settlement

Linette LopezSep 25, 2013, 23:55 IST

REUTERS/ Larry DowningJP Morgan CEO Jamie DimonAnd the hits just keep on coming... this one's especially hard.

The Associated Press reports that JP Morgan could pay out up to $11 billion - $4 billion in customer relief and $7 billion in cash - in a national settlement related to mortgage backed securities.

Sources close to the situation told the AP that the Justice Department is taking the lead on this, but individual states will likely get a piece of this pie as well.