New York Attorney General Eric Schneiderman on Monday filed a lawsuit against JPMorgan Chase for alleged fraud relating to mortgage-backed securities, a type of investment that consists of mortgage loans that have been pooled together.
The case is the first brought by a White House task force called the Residential Mortgage-Backed Securities Working Group against a major bank. President Barack Obama formed the group in January to investigate fraud in the mortgage-backed securities market.
Raw Story
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