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  • Vessel Runs Aground At Pleasant Harbor

    Avalon-AgroundThe Coast Guard says a 65-foot vessel ran aground while being towed near Brinnon with up to 500 gallons of diesel fuel aboard. An image released by the agency showed the pleasure craft Avalon mostly submerged near Pleasant Harbor, in Hood Canal. It was reported… Read More +

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  • Trail Work Could Bring Business To Darrington

    Whitehorse JuneWork1Crews hope their work to improve a 27-mile hiking and biking trail between Arlington and Darrington will bring tourists to the mudslide-ravaged region. The Daily Herald reports that the restoration of the Whitehorse Trail is a priority for officials looking… Read More +

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  • Cougars beat Portland State

    cougs2014Connor Halliday, the nation's leading passer, threw for 544 yards and six touchdowns on Saturday as Washington State beat Portland State 59-21. Isiah Myers caught 11 passes for 227 yards and three touchdowns for Washington State (1-2), which had opened the season with losses to Rutgers and Nevada but proved too much for FCS Portland State.

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JPMorgan Chase Eyes Record Settlement

b_250_0_16777215_00_images_obgrabber_2013-09_be48132f9f.jpgPeter Foley/Bloomberg via Getty Images (NEW YORK) -- The massive fallout from the bursting of the housing bubble more than five years ago continues to rumble through the banking system. JPMorgan Chase is in talks to make the largest-ever payment in the history of financial regulation to settle government investigations into its sales of mortgage-backed securities in the years leading up to the financial crisis.

The bonds tanked after the housing bubble burst, and the bank has resisted admitting guilt. Published reports say the huge deal would involve $7 billion in cash to the government and $4 billion in consumer relief for struggling homeowners. The agreement, which could be signed within days, involves multiple government agencies.

The $11 billion payment would be far higher than the initial amount the bank offered to pay the government earlier this week. And it also would be more than double the previous record when BP paid out $4.5 billion following criminal charges related to the Gulf of Mexico oil spill.

When he sued JPMorgan Chase last year, New York Attorney General Eric Schneiderman said the bank had committed “multiple fraudulent and deceptive acts” as it sold mortgage backed securities.

Copyright 2013 ABC News Radio

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