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  • Chalet To Be Relocated

    enchalet1Park officials say the Enchanted Valley Chalet in Olympic National Park is being relocated to protect the east fork of the Quinault River. Enchanted Valley will be closed to camping for the first two weeks of September, while the move takes… Read More +

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  • Body Found In Home Linked To Bloody Carpet

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  • Mariners Lose To Athletics 6-1

    mariners 8The fired-up Oakland Athletics came out swinging, and Chris Young's day was short-lived. Newcomer Adam Dunn hit a two-run homer as Oakland jumped to a five-run lead in the first, and Young failed to make it out of the inning as Seattle lost 6-1 to the Athletics on Monday. "I wasn't sharp. My stuff wasn't good, it was flat," Young said. "They came out super-aggressive, you could see it.

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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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