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  • Local Officials Recognized For Professional Excellence

    TheresiaEhrichTheresia Ehrich, currently the Chief Administrative Deputy for the Mason County sheriff's Department and Cathy Beierle, Finance Director for the City of Shelton, two financial services professions, have earned the "Professional Officer Award" for the State of Washington from the Washington… Read More +

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  • Student Shooter Dead After School Attack

    SeaSchoolShooterPolice say a lone shooter is dead after an attack at a high school north of Seattle. Marysville Police Commander Robb Lamoureux (LAM'-or-oh) said the shooter was a student, but he did not have any additional information including where in the… Read More +

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  • Baldwin Optimistic About Seahawks Moving Forward

    baldwinDoug Baldwin was about to board the charter bus last Friday when he got word Seattle had traded Percy Harvin. Two days later, he sat in a St. Louis locker room after one of the best games in his career answering questions about whether he was involved in a preseason scuffle with Harvin. Baldwin and the Seahawks are ready to put the Harvin conversation in the past.

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JP Morgan, DOJ Reach Tentative $13 Billion Deal

b_250_0_16777215_00_images_obgrabber_2013-10_ec02adf717.jpgROBYN BECK/AFP/Getty Images (WASHINGTON) -- The United States Department of Justice and JP Morgan Chase & Co have reached a tentative deal that would have JP Morgan pay $13 billion. According to a source familiar with the negotiations, the details are not finalized, but the tentative deal was struck Friday night in a conference call between Attorney General Eric Holder, Acting Associate Attorney General Tony West, JP Morgan Chief Executive Officer Jamie Dimon, and JP Morgan General Counsel Stephen Cutler.

As of a week ago, JP Morgan was offering to pay only $11 billion, and for the past two weeks a "sticking point" has been Dimon's demand that any agreement over civil matters include a non-prosecution agreement from the Department of Justice, agreeing not to criminally prosecute anyone at JP Morgan for misrepresenting the quality of mortgages to investors.

In a call a week ago, Holder told Dimon that was "a non-starter."

In the call Friday night, Dimon indicated that he would give up that demand.

As part of the tentative deal, JP Morgan has to assist the Department of Justice with obtaining information and evidence related to individuals who allegedly misrepresented the quality of mortgages to investors.

This is the largest, single payment by a US company ever.

In the $13 billion deal, $9 billion is in penalties and fines, while the other $4 billion goes towards consumer assistance.

Copyright 2013 ABC News Radio

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