settlement

Business
11:40 am
Thu November 21, 2013

When You Hear $13 Billion, Don't See Dollar Signs

The U.S. Justice Department on Thursday announced a $13 billion settlement with banking giant JPMorgan Chase & Co.
Mike Segar Reuters /Landov

Originally published on Tue November 19, 2013 8:04 pm

Thirteen billion dollars is a lot of money, but it's not going to add up to a huge windfall for many consumers.

Thousands of homeowners will receive significant financial relief under the terms of a $13 billion settlement with JPMorgan Chase & Co. that was announced Tuesday by the Justice Department. But the bulk of the funds will be going either to investors or government coffers.

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