The Justice Department has finalized a $13 billion settlement with the banking giant JPMorgan Chase over the sale of toxic mortgage-backed securities at the heart of the financial crisis. The settlement includes $4 billion in relief for struggling homeowners. It is the largest-ever penalty any single company has paid to the federal government. New York Attorney General Eric Schneiderman unveiled the settlement on Tuesday.

Eric Schneiderman: “Not only will Chase have to pay the largest settlement ever levied against a financial institution, but it has admitted in our statement of facts that its own employees, employees of Bear Stearns and employees of Washington Mutual made material misrepresentations to the investing public about a large number of residential mortgage-backed securities that they issued prior to the crash in 2008. This settlement is a major victory in the fight to hold accountable those who were responsible for that crash.”

The settlement closes a number of federal and state probes into JPMorgan’s sale of toxic mortgage securities. The bank could still face prosecution on criminal charges of fraud. It is also the target of at least nine other government investigations.