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JPMorgan to pay US$50m over improper mortgage practices: DOJ

[WASHINGTON] JPMorgan Chase will pay US$50 million as part of a national settlement agreement to compensate homeowners in bankruptcy over the use of robo-signing and other improper practices, the Department of Justice said on Tuesday.

The settlement includes cash payments, mortgage loan credits and loan forgiveness to more than 25,000 homeowners, the Justice Department said in a statement.

REUTERS