Among the large figures being bandied about through various leaks to media outlets, the Federal Housing Finance Agency -- which regulates Fannie and Freddie -- is looking for JPMorgan to cough up $6 billion to settle claims the bank falsely claimed loans sold to government-sponsored enterprises met required underwriting standards, according to The Financial Times.
The Journal last week reported JPMorgan would completely exit student lending as part of a continuing effort to "simplify" its operations, although federal regulators' proposed leverage capital rules provide plenty of incentive for the biggest banks to focus on higher-risk, higher return businesses.
JPMorgan weathered the post-crisis environment quite well through 2012 with record earnings for three years running. But the regulatory costs are mounting, making it possible that Wells Fargo (WFC) will jump to the head of the line as the nation's most profitable bank.
A JPMorgan Chase spokesperson said the company had no additional comment. Dimon was interviewed by the Journal, saying "Fixing our controls issues is job No. 1... This is a huge investment of people, time and money...but it will make us stronger in the long run."JPMorgan's shares were up 0.4% in early trading, to $52.45. JPM data by YCharts
Interested in more on JPMorgan Chase? See TheStreet Ratings' report card for this stock. -- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn
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