JP Morgan Chase fights residential mortgage backed securities case

JP Morgan Chase has urged a judge to throw out a residential mortgage backed securities lawsuit lodged against it. The case comes from Bank of New York Mellon, which has accused JP Morgan Chase of misrepresenting $959m worth of residential mortgage loans.

By William Gorta (July 12, 2016, 7:34 PM EDT) -- JPMorgan Chase Bank NA argued Tuesday that a New York Supreme Court judge should toss a suit made against it by Bank of New York Mellon Corp. over alleged misrepresentations made in the sale of $959 million in residential mortgage loans because she ruled that way in a "virtually identical" case between the same parties....

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