NEW YORK (Legal Newsline) – JPMorgan Chase Bank has agreed to pay $614 million to settle a False Claims Act lawsuit, but it is unclear how much of that will be paid to a whistleblower who brought suit against the company.
On Tuesday, the U.S. Department of Justice announced the settlement, which resolves allegations that JPMorgan Chase improperly approved thousands of residential home mortgage loans for government insurance and refinancing.
The United States filed its complaint-in-intervention on Tuesday, the same day a federal judge approved the settlement.
The case, which was initiated by Keith Edwards in 2013, was filed under seal.
Issues remaining, that will be part of the public record, are how much Edwards will be paid and how much his attorneys will be paid.