JP Morgan to face lawsuits over failed credit unions

American courtroom

U.S. District Judge John Lungstrum said the National Credit Union Administration may pursue civil claims that the bank and two companies it bought, Bear Stearns and Washington Mutual, misrepresented the quality of dozens of securities sold to four credit unions in 2006 and 2007.

JPMorgan Protests Too Much About Bear Stearns Lawsuit


New York State Attorney General Eric Schneiderman’s fraud lawsuit against JPMorgan Chase for the misdeeds that occurred at Bear Stearns Cos. has sent exactly the wrong message to Wall Street: Don’t worry, you can get away with seemingly criminal behavior.