New details in the settlement between the Justice Department and JPMorgan Chase have revealed the deal may lead to money being funneled toward a liberal advocacy group, Fox News’ Trace Gallagher reported Monday on “The Kelly File.”
The banking giant agreed to pay the DOJ a record $13 billion to settle state and federal civil lawsuits over faulty mortgage bonds last month. The settlement states that $9 billion of the funds will go toward the lawsuits and the other $4 billion will be allocated for consumer relief.
However, the deal also states that any remaining money from that $4 billion will go to NeighborWorks of America, a liberal group that provides affordable housing and helps fund community organizers.
Critics say some of the community organizers sponsored by NeighborWorks are in the same vein as ACORN, the community organizing group busted in 2010 in a voter fraud scandal.
Fox News’ senior judicial analyst Judge Andrew Napolitano slammed the deal, saying the Obama administration is funneling the funds to liberal causes.
“This is an utter perversion of justice,” he said, “for the federal government to extort billions of dollars from the second-largest bank in the United States and give it away to the president’s political friends and favorite political causes.”
