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Statement by Senator John McCain on JP Morgan Settlement

Statement

Date: Nov. 20, 2013
Location: Washington, DC
Issues: Housing and Property

U.S. Senator John McCain (R-AZ) today released the following statement on the JPMorgan settlement:

"Yesterday, the Department of Justice announced a $13 billion settlement with JPMorgan Chase to resolve claims stemming from its issuance of shoddy mortgage-backed securities. This is a welcomed signal that the events that launched our economy into a crisis are still being examined. But, this settlement does not address individual accountability, and I remain concerned that individuals at the bank who may have committed a crime may never be held responsible. I look forward to Attorney General Eric Holder's response to my September 30, 2013, letter in which I conveyed concern about the DOJ's approach to individual accountability and the potential tax deductibility of any settlement in connection with this matter."


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