Lawyers take top role in JP Morgan discussions

JP Morgan's General Counsel Stephen Cutler and Rodgin Cohen of Sullivan & Cromwell have made up a trio with chief executive Jamie Dimon in talks to agree a settlement on the bank's regulatory fines.

JPMorgan finalises settlement agreement for the bank's regulatory fines Kiev.Victor

As Global Legal Post went to press, talks at the Department of Justice were being described as 'constructive' by Financial Times sources but they had not produced a final agreement. The bank is seeking to make a multi-million dollar agreement with US regulators which would limit any future liabilities on its mortgage securities work. 

The FT concludes: 'A settlement with JPMorgan could be a template for other banks with outstanding legal challenges on mortgage securities, including Bank of America.'

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