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The Boston Globe

Business

JPMorgan reaches $4.5b settlement with investors

JPMorgan Chase & Co. has reached a $4.5 billion settlement with investors over mortgage-backed securities.

The settlement, announced Friday, covers 21 major institutional investors, including competitor Goldman Sachs, BlackRock Financial Management, and Metropolitan Life Insurance Co. The mortgage-backed securities were sold by JPMorgan — the biggest U.S. bank — and Bear Stearns between 2005 and 2008.

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