JPMorgan Agrees To Settle FHL Bank Of Pittsburgh Suit Probing US Deal

(RTTNews) - JPMorgan & Chase Co. has agreed to settle with Federal Home Loan Bank of Pittsburgh to turn over the government's draft complaint at the center of its $13 billion deal with regulators. The terms of the agreement were not disclosed, Bloomberg reported.

In 2009, Federal Home Loan Bank of Pittsburgh sued JPMorgan and credit-ratings companies over losses on $1.8 billion in mortgage-backed securities it bought in 2006 and 2007.

The deal is the outcome of the judgement given by a court in less than a one month to give the plaintiff's lawyers a draft of the U.S. Justice department's proposed complaint that the record settlement was based on.