Exclusive: JPMorgan’s Proposed $4.5 Billion Deal To Be Accepted For Most Trusts- Source
According to a person familiar with the matter, trustees representing investors in JPMorgan Chase & Co’s $4.5 billion settlement over money-losing mortgage-backed securities are expected to accept the bank’s proposal for the vast majority of their trusts. The person said, the seven trustees overseeing the securities will accept the deal for all but perhaps two dozen of the 330 trusts included in the offer. An expert for the trustees, Daniel Fischel, said in a July 17 report that before a trustee rejects the proposed settlement for any trust, the trustee should be confident that there’s a group willing to pursue claims.
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