Citing a lengthy list of concerns, the advocacy group Better Markets is challenging the U.S. Justice Department’s recent $13 billion settlement with JPMorgan Chase, calling the agreement “unlawful and unprecedented.”
In November, the Justice Department announced the settlement with banking giant JPMorgan to resolve claims related to its packaging, marketing, sale, and issuance of residential mortgage-backed securities. The largest settlement with a single entity in American history, it also covers securities sold by Bear Stearns and Washington Mutual prior to Jan. 1, 2009.
