JPMorgan Chase, the nation’s biggest bank, will provide $100 million to help debt-ridden Detroit with housing repairs, blight removal, job training and economic development projects over the next five years, according to two people with direct knowledge of the plans. 
 
 The investment, a mix of loans and grants, will add to a growing pile of money from outside private institutions as the city nears the final, painful stages of the nation’s largest municipal bankruptcy proceeding. Detroit filed for bankruptcy protection in July, with an estimated $18 billion in long-term debt. This summer, a federal judge will decide whether to approve a plan that would allow the city to exit bankruptcy court by mid-October. 
 
 In recent days, the city has been lobbying to secure nearly $200 million in funding from Michigan lawmakers, who are wary of setting a precedent by using taxpayer dollars to bail out a major metropolis. If approved, the state funding would be part of a so-called grand bargain that would also include hundreds of millions of dollars from philanthropic foundations. The money would be used to cushion pension cuts for Detroit retirees and avert the sale of the city’s art collection. The Legislature is weighing a package of bills regarding the outside funding this week. 
 
 JPMorgan’s support, previously reported by Detroit newspapers, will focus on city revitalization efforts and may help ease concerns by some legislators that Detroit could find itself in financial trouble again down the road. The institution’s chairman and chief executive, Jamie Dimon, will make a public announcement about the money with state and city officials on Wednesday. A spokesman for the bank would not discuss the matter before then. 
 
 “The city’s challenges remain significant — unprecedented, in some regards — but JPMorgan Chase believes that Detroit has the ingredients and intrinsic strengths to reshape and rebuild a dynamic modern economy and make the city a great place to live, work and invest,” said a company document detailing how the $100 million would be spent, which The Detroit Free Press posted online on Tuesday. “We are committed to helping make that future a reality.” 
 
 The bank will direct half of the money to community projects that would otherwise lack access to capital. It will put $25 million toward assisting groups like the Detroit Land Bank Authority and the Detroit Blight Removal Task Force, which have begun aggressive demolition campaigns to rid the city of its estimated 78,000 vacant structures. The rest will be diced up: $12.5 million for work-force training, $7 million for small-business assistance and $5.5 million toward economic growth projects such as a new streetcar system. 
 
 The company announced another five-year initiative in December that infused $250 million into Detroit and other big cities for job-skills training. Both efforts come as JPMorgan emerges from a period of intense scrutiny. The bank reached a $13 billion settlement in November over its sale of questionable mortgage securities in the prelude to the financial crisis. 
 
 Goldman Sachs, another bank that has been buffeted by regulatory woes, pledged $20 million to Detroit in November for job creation and economic development. ||||| When the head of the world's largest bank called the local billionaire bent on Detroit's revival, good things happened. 
 
 JP Morgan Chase CEO Jamie Dimon plans to be in Detroit today to announce a $100-million investment in the city that began several months ago with a phone call to billionaire Dan Gilbert, the Quicken Loans founder who owns or controls more than 40 downtown buildings. 
 
 "Obviously, Detroit was having issues," Dimon told the Free Press this week in an exclusive interview. "I got together some of our senior people and said, 'What can we do that's really neat, that could be really ... ||||| The settlement discussions stem from work by a mortgage-backed securities task force. | AP Photos DOJ, JPMorgan strike tentative deal 
 
 JPMorgan Chase has reached a tentative agreement with the Justice Department to pay a record $13 billion to settle civil investigations into faulty mortgage securities the bank sold to investors in the lead up to the financial crisis, according to two people familiar with the negotiations. 
 
 The tentative deal was reached Friday night in a call involving Attorney General Eric Holder and JPMorgan Chase CEO Jamie Dimon, one of the sources said. 
 
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 It would be the largest settlement ever between Justice and a single company. 
 
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 The package is expected to include $9 billion in penalties paid to the government and $4 billion in relief for consumers. 
 
 The deal would mark a victory for the Obama administration, which has been criticized for not being more aggressive in pressing cases against Wall Street firms following the 2008 financial crisis. 
 
 For JPMorgan, the deal would be its latest, and most significant, attempt to settle a series of legal challenges from the government — investigations that are eating into the bank’s profits as well as its reputation as Wall Street’s best run bank. 
 
 The deal is not done and the final settlement is being negotiated through the mortgage securities task force President Barack Obama created in 2012, according to one source. This group is co-chaired by officials from Justice, the Securities and Exchange Commission and the office of New York Attorney General Eric Schneiderman. 
 
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 Still being negotiated are the details of what JPMorgan will admit to in terms of wrongdoing. 
 
 JPMorgan was seeking protection from criminal prosecution as part of the deal, but in a call about a week ago Holder told Dimon that was a nonstarter, according to a source. 
 
 On Friday, Dimon and JPMorgan General Counsel Stephen Cutler agreed to proceed with the civil side settlement even without assurances of no federal criminal prosecutions. 
 
 Spokesmen for JPMorgan and the Justice Department declined to comment. 
 
 Over the past year JPMorgan has faced a series of investigations that dented the reputation of both the bank and Dimon, who won plaudits following the financial crisis for his risk management skills. 
 
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 In recent weeks, the bank has struck deals with various regulators intended to put an end to the firm’s legal woes. 
 
 Last month the bank agreed to a $920 million settlement with regulators over the London Whale trading debacle, along with separate deals over credit card and debt collection problems. 
 
 JPMorgan’s legal troubles caused it to this month report its first quarterly loss since Dimon became CEO in 2005. The bank reported that it lost $380 million in the third quarter after spending about $9.3 billion on legal expenses. It is now reserving roughly $23 billion for litigation costs. 
 
 Dimon has said that many of the issues with past mortgage bonds subject to the settlement with Justice and other agencies center around failing institutions — Bear Stearns and Washington Mutual — the bank took over in 2008 with encouragement from the government. 
 
 The government’s decision to press cases involving Bear and WaMu have clearly been a sore point for Dimon, but at this point JPMorgan appears to have decided its best to be done with the issue. 
 
 “It is very hard to fight with your regulators or the federal government, but we want them to be fair and reasonable,” Dimon told analysts on Oct. 11 when the company released its third quarter earnings. 
 
 As part of the tentative $13 billion deal, JPMorgan will pay $4 billion as part of an agreement with FHFA over mortgage-backed bonds the bank sold to taxpayer owned Fannie Mae and Freddie Mac in the lead up to the financial crisis, according to a source. 
 
 The FHFA sued JPMorgan and 17 other banks in 2011 alleging that the underlying loans in more than $200 billion worth of mortgage bonds sold to Fannie and Freddie were riskier than disclosed. The agency’s suit against JPMorgan covered roughly $33 billion in bonds sold between 2005 and 2007. 
 
 JPMorgan would become the fourth bank to settle the claims. UBS agreed in July to pay $885 million in its settlement. GE Capital and Citigroup reached settlements earlier in the year, but those amounts were not disclosed. 
 
 The deal with JPMorgan and the ongoing investigation into possible criminal charges would burnish the reputation of the president’s task force, which has been criticized for acting too slowly. 
 
 The SEC, under the umbrella of the working group, reached separate settlements with Credit Suisse and JPMorgan in November 2012. 
 
 There are still open cases against Credit Suisse and other firms, including a suit filed against Standard & Poor’s alleging the credit rating agency committed fraud when it stamped toxic mortgage bonds triple-A. A separate suit was filed against Bank of America and its affiliates, including Merrill Lynch, in August for allegedly defrauding investors in $850 million of mortgage-backed securities sold in 2008.
– JPMorgan is moving to help a bankrupt city get back on its feet. The bank is putting $100 million, divided between loans and grants, toward Detroit's revitalization, the New York Times reports. The money is intended to help the city with an array of projects, including housing improvements, the demolition of some 70,000 empty buildings, and job training. "I think we can make this our finest moment," CEO Jamie Dimon told the Today show. Dimon rejects the idea that the bank's move has anything to do with a $13 billion settlement last year tied to the financial crisis. "We invest and develop communities around the world … That's what banks do." The effort began several months ago when Dimon contacted Quicken Loans boss Dan Gilbert, who has a large stake in downtown buildings, the Detroit Free Press reports. "No one’s forcing them to do this by any means," Gilbert says. Detroit Mayor Mike Duggan, for his part, calls the money a "significant start." Dimon's goal with the funding: "If it works, you'll have a healthy and vibrant economy, jobs and population, businesses will beget home ownership, better schools, and a completely revived city."