Karen Freifeld, Reuters via The Huffington Post

JPMorgan Chase & Co has agreed to pay $4.5 billion to settle claims by investors who lost money on mortgage-backed securities in the collapse of the U.S. housing market, a person familiar with the matter said.

The bank will make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by the bank and Bear Stearns, which it took over during the financial crisis, the person said.

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