BofA Not Alone, JPMorgan Chase May Face Criminal Charges Over Mortgages

Photo Credit: Forbes Federal regulators are having a busy summer as they go after the nation’s two biggest banks for mortgage securities they issued before the financial crisis.

JPMorgan Chase JPM -0.85% has revealed in its quarterly regulatory filing it’s being investigated by criminal and civil divisions of the U.S. Department of Justice.

The news comes just a day after Bank of America BAC +0.55% was hit with civil suits from the DoJ and SEC.

JPM, the nation’s largest bank, said it is responding to “parallel investigations being conducted by the Civil and Criminal Divisions of the United States Attorney’s Office for the Eastern District of California relating to MBS offerings securitized and sold by the Firm and its subsidiaries.”

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