"The latest settlement relating to mortgage-backed securities follows a fine of more than $900 million from a number of authorities over last year's London Whale trading incident, which Dimon had originally attempted to brush aside as "tempest in a teapot." The Whale episode also lost the bank $6.2 billion and Dimon's bonus was halved as a consequence. At issue in the latest settlement is whether the bank sold mortgages that it knew were riskier than they appeared. Investors, including government-owned mortgage agencies Fannie Mae and Freddie Mac, said that the bank told them loans were safer than they were, or that the bank was negligent in not verifying information from borrowers relating to their income and their ability to repay the debt. A sizable chunk of the $13 billion relates to customer redress. According to Bloomberg the settlement includes $4bn to the Federal Housing Finance Agency – which incorporates Fannie Mae and Freddie Mac. Dimon secured the tentative deal in a meeting with the Justice Department's attorney general, Eric Holder, according to CNBC. Steve Cutler, the bank's general counsel, and Tony West, Holder's deputy, were said to be involved. - See more at: http://www.occupy.com/article/jpmorgan-chase-fined-historic-13-billion-mortgage-fraud#sthash.SOXed0AN.dpuf"