© 2021 WFAE
90.7 Charlotte 93.7 Southern Pines 90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

JPMorgan Chase Faces Justice Department Probe

LINDA WERTHEIMER, HOST:

NPR's business news starts with questions for JPMorgan.

(SOUNDBITE OF THEME MUSIC)

WERTHEIMER: JPMorgan Chase revealed yesterday that it's facing criminal and civil investigations by the Justice Department. The bank says the investigations focus on sales of subprime mortgage securities in the years preceding the financial crisis.

The revelation comes in the wake of news that the DOJ is suing Bank of America for defrauding investors in mortgage-backed securities. Transcript provided by NPR, Copyright NPR.