The Traderszone Network

Published in TZ Latest News 1 August, 2014 by The TZ Newswire Staff

Exclusive: JPMorgan’s proposed $4.5 billion deal to be accepted for most trusts- source

Trustees representing investors in JPMorgan Chase & Co’s $4.5 billion settlement over money-losing mortgage-backed securities are expected to accept the bank’s proposal for the vast majority of their trusts, according to a person familiar with the matter. The seven trustees overseeing the securities will accept the deal for all but perhaps two dozen of the 330 trusts included in the offer, the person said. Trustees may poll bondholders in some trusts to see if they would pursue claims if the offer is rejected, the person said.

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