NEW YORK: Rising legal costs push JPMorgan to rare loss

Last month, JPMorgan agreed to pay $920 million and admitted that it failed to oversee trading that led to a huge $6 billion loss last year -- an episode known as the London Whale. The bank is also said to be discussing an $11 billion national settlement with the Department of Justice over mortgage-backed securities. The securities lost value after a bubble in the housing market burst and helped spur the financial crisis.''