The Justice Department, along with federal and state partners, announced a 13 billion settlement with JPMorgan to resolve federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities by JPMorgan, Bear Stearns and Washington Mutual prior to Jan. 1, 2009. As part of the settlement, JPMorgan acknowledged it made serious misrepresentations to the public about numerous RMBS transactions. The resolution also required JPMorgan to provide much needed relief to underwater homeowners and potential homebuyers. The settlement did not absolve JPMorgan or its employees from facing any possible criminal charges.