Mr Cooper Group Inc (COOP)

[Boris the Spider]

From hold2wm on bp:

"When FDIC settles with BBA and EU banks, Chase and other US banks will have few months to settle as well. IMO it isn't up to Dimon to drive the timeline, he will be told when and the $ amount is already known to both FDIC and Dimon."

BBA, ICE LIBOR (formerly known as BBA LIBOR) is a widely used benchmark for short-term interest rates.
The dollar amount hold2 refers to is likely the $400B.

So FDIC now is going after BBA in the dual track litigation, with JPM having the chance to settle as well. I find it implausible that JPM wants to drag this out and take the chance of being hamstrung in depositions, trials, or possible RICO. If this goes to Apr 14 and JPM still has not settled, it goes to the discovery phase which ends Oct 4, then on to trial, which could get very ugly for JPM.

Now, will JMP try to settle for 100-200B and be done with it, or do they want to play hard ball and risk getting Epsteined? I would guess we will hear of a settlement next month. If they do not then we go to trial most likely, which will end 12-18 months from now and the result will be huge for us and a nightmare for JPM.

IMO