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  • Jeff And Dale Take Ice Bucket Challenge

    icebucketDale Hubbard and Jeff Slakey of the Daybreak Show on KMAS News Radio get iced for a good cause - fighting Amyotrophic lateral sclerosis (ALS), often referred to as "Lou Gehrig's Disease. They challenged Port of Shelton Executive Director John Dobson;… Read More +

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  • Raiders Over Seahawks 41-31

    hawsktextgradRookie Derek Carr threw three touchdown passes to make a case he should be Oakland's starting quarterback, and the Raiders wrapped up the preseason with a 41-31 victory Thursday night over the Seattle Seahawks. Carr was almost perfect in the start in place of Matt Schaub, completing 11 of 13 passes for 143 yards, and led Oakland (2-2) to four touchdowns in four drives.

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JPMorgan Chase Faces $2B Madoff Penalty

b_250_0_16777215_00_images_obgrabber_2014-01_285e88d914.jpgScott Eells/Bloomberg via Getty Images (NEW YORK) -- JPMorgan Chase is close to making another big payout to federal regulators. This time, the alleged wrongdoing involves what the bank didn’t tell investors after receiving warnings that Bernard Madoff’s money management business was a fraud. The latest settlement would mean the biggest U.S. bank has paid about $20 billion to settle government investigations and lawsuits in the past 12 months.

According to published reports, an announcement is likely this week.  JPMorgan Chase would pay about $2 billion in penalties related to Madoff and most of the money will go to his victims.

The New York Times says the Madoff settlement “would also involve a so-called deferred prosecution agreement, a criminal action that would essentially suspend an indictment as long as JPMorgan acknowledged the facts of the government’s case and changed its behavior.” 

That kind of agreement is very unusual for a big bank.

Copyright 2014 ABC News Radio

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