U.S. Bank fined Rs 80 billion

U.S. Bank fined Rs 80 billion

U.S. banking giant JP Morgan has fined record $ 13 billion.According to U.S. media reports, after examining the case of mortgage-based securities were fined JP Morgan's book.

U.S. Justice Department  agreed after talks between senior officials. The firm was accused of selling More money on the mortgage-based securities.It is believed that in 2007 led to the banking system teetered on the brink of collapse completely.

Last month, JP Morgan was fined 61 billion for the scam London whale .

Bruno Iksil former bank employee in the financial markets that buy large stake - to sell out the situation became such scams.

U.S. Bank fined Rs 80 billion

Risky assets

Wall street Journal, citing officials familiar with the decision said that JP Morgan will pay huge sums of fines it.

On Friday after the talk between the lawyer of JP Morgan and the Attorney General Ereek Holder, of America and his assistant Yogi West, The justice department have took this decision.

News Times have gave this news that The investment bank on it was almost on the verge of giving consent But on the final details are still being discussed.

The Justice Department nor the Bank has no comments.

If this is confirmed that As a U.S. company this settlement will be paid the big bucks.

Nearly Rs 7 trillion 95 billion  to the amount that includes of the fine  Rs  5 trillion 51 billion as a penalty.

While the 2 trillion  44 billion rupees will be given to relieve home owners are struggling.

Financial crisis, many investment banks, mortgage backed securities were offered in the market.