US banking giant JP Morgan is set for a record $13bn (£8bn) fine to settle investigations into its mortgage-backed securities, US media reports say.
A tentative deal is believed to have been reached in talks with senior US justice department officials.
The sale of overvalued mortgage-backed securities was blamed for the near-collapse of the banking system in 2007.
Last month, JP Morgan was fined almost $1bn in a separate case over the "London Whale" trading debacle.
The scandal arose from disastrous trades by former bank employee Bruno Iksil, who made big bets on the financial markets.
Risky assets
The tentative deal to pay the $13bn fine to the justice department was reached during the talks on Friday, between JP Morgan lawyers with US Attorney General Eric Holder and his deputy Tony West, the Wall Street Journal said, citing officials familiar with the decision.
A tentative deal is believed to have been reached in talks with senior US justice department officials.
The sale of overvalued mortgage-backed securities was blamed for the near-collapse of the banking system in 2007.
Last month, JP Morgan was fined almost $1bn in a separate case over the "London Whale" trading debacle.
The scandal arose from disastrous trades by former bank employee Bruno Iksil, who made big bets on the financial markets.
Risky assets
The tentative deal to pay the $13bn fine to the justice department was reached during the talks on Friday, between JP Morgan lawyers with US Attorney General Eric Holder and his deputy Tony West, the Wall Street Journal said, citing officials familiar with the decision.
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