JPMorgan to book $700m charge

JPMorgan Chase will book a $700m (£436m) charge when it releases its fourth-quarter accounts on 16 January, the company said in a regulatory filing last night. It is due to an industry-wide settlement with US regulators over allegations banks wrongly approved millions of foreclosures on US mortgages in the aftermath of the 2008 financial crisis. Under the terms of the deal, JPMorgan will pay $753m into a fund for individuals who lost out.