Banks work to settle charges related to mortgage bonds

04/15/2011 | Wall Street Journal, The

The Securities and Exchange Commission is in talks with JPMorgan Chase, Citigroup and other major Wall Street banks over allegations of fraud related to mortgage bonds, sources said. The regulator and banks are working on individual settlements rather than an industrywide deal, according to the sources. The banks are facing different allegations, making a common settlement unworkable.

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