JPMorgan’s $13 Billion Settlement: Who Is Next?

JPMorgan Chase & Co. (NYSE:JPM)’s recent $13 billion tentative settlement with the Justice Department should make investors cautious, states Rafferty Capital Markets, LLC. Richard X. Bove of Rafferty Capital Markets, LLC predicts that JPMorgan Chase & Co. (NYSE:JPM)’s tentative settlement could be just the beginning of the government’s intention to apply its new precedent throughout the industry. JPMorgan Chase’s settlement Recently, JPMorgan Chase & Co. (NYSE:JPM) reached a tentative agreement to pay a record $13 billion fine to the Justice Department to settle probes into its residential mortgage-backed securities. If the amount is confirmed, it would be the largest ever paid by…