JPMorgan (JPM) to settle MBS case with SEC for $250 million - Gasparino

November 16, 2012 9:55 AM EST
JPMorgan Chase & Co. (NYSE: JPM) is a lower Friday amid new MBS settlement chatter.

According to Fox Business' correspondent Charles Gasparino, JPMorgan will settle is mortgage-backed security (MBS) litigation for about $250 million. From his Twitter account:

"FBN NEWS: JPM settlement w SEC over mbs sale as early as today; firm to pay around $250m to settle; charges stem mostly from actions of BSC."

JPMorgan is down 1.1 percent in early trading.

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Charles Gasparino, JPMorgan, Twitter

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