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US plans new bank fraud cases in early 2014-attorney general

Wednesday, 4 Dec 2013 | 12:10 PM ET
U.S. Attorney General Eric Holder.
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U.S. Attorney General Eric Holder.

The U.S. Justice Department plans to bring civil mortgage fraud cases against several financial institutions early in 2014 using as a template the case that ended last month in JPMorgan Chase's $13 billion settlement, U.S. Attorney General Eric Holder said on Wednesday.

AG Holder: JPM settlement inflicts pain
CNBC's Pete Williams reports that JPMorgan executives knew there were worthless loans being packaged to consumers.

In an interview with Reuters, Holder would not say which firms or how many could face suits but said the Justice Department was in contact with them about the cases and it was hard to say whether the talks would lead to settlements.

(Read more: Fed's Lacker: Bank 'wills' to reduce risky funding)

"We have a number of investigations that are coming to a head at the same time,'' he said. "It is my hope that the next round of these cases will be filed soon after the new year.''

—By Reuters

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