Delaware to receive $19.7 million in JPMorgan settlement
By Tom Lehman

Delaware is set to receive nearly $20 million as part of the nationwide $13 billion settlement between JPMorgan Chase & Co. and the U.S. Government.

The Attorney General's office says the corporation acknowledged in the settlement that it misled investors about risky mortgage-backed securities in advance of the 2008 financial crisis.

The settlement is largest such deal between the U.S. government and a corporation

State officials say the $19.7 million portion of the national settlement will be used for compensating state entities for losses on investments among other purposes.

Copyright © Sep 15, 2014, WDEL/Delmarva Broadcasting Company. All Rights Reserved.
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