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  • Bid Lost For Education Agility

    education deskWashington state has lost its latest bid for flexibility under the federal No Child Left Behind law. State officials say they heard from U.S. Department of Education officials to say they were not going to approve a request made about… Read More +

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  • Seahawks 2014 Regular Season Sold Out

    hawks12The Seattle Seahawks 2014 regular season is sold out, the team announced Monday. Single-game tickets went on sale Monday morning at 10 a.m. at the CenturyLink Field Box Office and through Ticketmaster. A limited number of tickets remain for preseason games. The club capped season-ticket memberships at 63,000, the most in franchise history.

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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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