JP Morgan fine just days away

Tim Wallace
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JP MORGAN is set to pay $13bn (£6.1bn) in a settlement with the Department of Justice over mortgage-backed securities sold in the run up to the financial crisis.

The deal could be finalised as soon as this week, it is understood, after months of wrangling between the bank and the regulator.

The bank is expected to take the blame for Washington Mutual’s actions before the crash – a key point of contention, as the bank bought to Mutual at the government’s urging.