Feb 20

Justice Department Probing JPMorgan Over Bear Stearns Mortgage Products

Posted in: Today's Chili

By Karen Freifeld and Aruna Viswanatha

(Reuters) – The U.S. Justice Department is investigating JPMorgan Chase & Co over allegations that Bear Stearns provided misleading information about its mortgage products during the lead-up to the financial crisis, according to people familiar with the matter.

JPMorgan acquired Bear Stearns in a 2008 fire sale encouraged by the government, and has pushed back against various government suits that have sought to hold JPMorgan accountable for the failed investment bank’s alleged mortgage-related misconduct.

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