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  • Reclamation Ridge Brush Fire

    fire ridge1Monday, July 28, 2014 around 3:15pm Central Mason Fire & EMS was toned for the report of a small 4 X 4 ft. brush fire on Reclamation Ridge behind Lakeland Village in Allyn, WA. Upon arrival crews found an approximate… Read More +

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  • Robbers Hit 5 Banks In 8 Days

    cop lights dayAuthorities are looking for a trio of robbers they say have hit five banks in eight days this month in Pierce and south King counties. The Tacoma News Tribune reports Tuesday that three men are in their 20's. The… Read More +

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  • Galaxy 3-0 Win Over Sounders

    Sounders logoLandon Donovan assisted on Gyasi Zardes' goal in the eighth minute, then scored off a rebound 10 minutes later and led the Los Angeles Galaxy to an impressive 3-0 win over the Seattle Sounders on Monday night. Donovan and the Galaxy won for the fourth time in six matches and handed the Western Conference-leading Sounders one of their worst home MLS losses in franchise history.

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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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wspd1pio - Update: The westbound lanes of SR-510 at Mullen Rd have been reopened.

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