JPMorgan faces criminal probe

Posted by Bloomberg

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JPMorgan Chase & Co., the biggest U.S. bank, said it’s under federal criminal investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded..

The firm is among more than a dozen financial institutions, including Morgan Stanley (MS) and Citigroup Inc., accused by the European Commission last month of colluding to curb competition in credit derivatives.

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