In what can already be described as an “Ahab-ian” struggle, JPMorgan hopes to finally succeed in slaying its Moby Dick this week with a settlement that will close out probes around a derivative trading error and its subsequent cover-up that cost the company billions of dollars.

The bank has agreed to pay $100 million in settlements to the Commodity Futures Trading Commission (CFTC) to close out a probe into the “London Whale” bet. The CFTC probes were an attempt to uncover any negligence within the management chain responsible for the incident but will now be halted. While the new settlement will rectify the probe from the CFTC, investigations by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are still pending.

In addition to the monetary compensation that JPMorgan will pay, Bloomberg has reported that the banking giant will also be required to admit to wrong doing in relation to the case. While many of these types of settlements allow banks to plead the Fifth Amendment when it comes to admission of guilt, there has been a recent trend to hold banks accountable and require them to admit they were at fault as a stipulation of a settlement.

JPMorgan has already paid over $1 billion in fines regarding this incident, and two of its former employees are facing criminal investigations as a direct result of orchestrating the cover up of losses. The two involved have been charged with securities fraud, wire fraud, conspiracy, making false filings with the SEC and falsifying books and records.

While those close to the bank suggested that talks to close outstanding probes from the DOJ into JPMorgan’s mortgage back securities were making progress last week, there has been no official disclosure on the terms and agreements of that deal. The initially report kicked-around a figure of $11 billion settlement figure, $7 billion in fines and another $4 billion for struggling homeowners.