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Legal costs contribute to JP Morgan quarterly loss

11 October 2013 Last updated at 22:37 BST

America's biggest bank, JPMorgan Chase is renowned for being a profit machine, churning out good financial results for investors.

But in its latest earnings report JPMorgan Chase is reporting a loss for the quarter - a rarity for the financial giant.

The bank has set aside $9.2bn (£5.8bn) to cover a string of legal bills stemming from the housing crisis and the bank's "London Whale" trading debacle.

Samira Hussain reports.

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