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What JPMorgan's $13-billion settlement won't resolve

What JPMorgan's $13-billion settlement won't resolve

NEW YORK -- JPMorgan Chase & Co.'s historic $13-billion settlement with the federal government will pay down a major chunk of the bank's ballooning legal tab.

The Justice Department on Tuesday announced the widely expected settlement of faulty mortgage investments leading up to the financial crisis.

“Through this $13-billion resolution, we are demanding accountability and requiring remediation from those who helped create a financial storm that devastated millions of Americans,” said Associate Atty. Gen. Tony West. “The conduct JPMorgan has acknowledged -- packaging risky home loans into securities, then selling them without disclosing their low quality to investors --...