Money | JPMorgan Chase JPMorgan Agrees to Record Financial Crisis Penalty Company officially strikes $13B settlement By Newser Editors and Wire Services Posted Nov 19, 2013 2:47 PM CST Copied People are silhouetted below signage at the JPMorgan Chase & Co. headquarters in New York, Tuesday, Nov. 19, 2013. (AP Photo/Seth Wenig) Quick, somebody #AskJPM how it feels to pay the largest civil settlement in history. JPMorgan Chase & Co. has reached a record $13 billion deal with federal and state authorities, resolving claims over the bank's sales of mortgage-backed securities that collapsed during the US housing crisis. It is the largest settlement ever between the Department of Justice and a corporation and marks a key chapter for the crisis. The settlement requires JPMorgan to pay $9 billion and provide $4 billion in consumer relief, including principal reductions and other mortgage modifications for homeowners facing foreclosure. New York Attorney General Eric Schneiderman, who sued JPMorgan in 2012, says the state will get $613 million in cash and about $400 million in relief for struggling homeowners. The deal resolves claims against JPMorgan, Bear Stearns, and Washington Mutual before 2009. Read These Next Her blood isn't compatible with anyone else's. Iran's supreme leader makes first public comments since ceasefire. Rubio says the fate of Iran's conversion facility is what matters. New Fox star, 23, misses first day after car troubles. Report an error