JPMorgan Chase will pay $45 million to settle whistle-blower claims by two Atlanta-area mortgage executives that the bank defrauded the federal government through a program that helped veterans refinance their homes, lawyers for the whistle-blowers said.
JPMorgan is the first of 10 of the nation’s largest banks sued in federal court in Atlanta to settle. The banks have been accused of illegally billing legal fees and other barred costs to an estimated 1.2 million veterans who refinanced their homes through the Veterans Administration.
