Morgan Stanley To Pay $3.2B To Settle Mortgage-Backed Securities Claims
(February 11, 2016, 2:16 PM EST) -- WASHINGTON, D.C. — Morgan Stanley will pay $3.2 billion to settle claims with the U.S. Department of Justice and other members of President Barack Obama’s Financial Fraud Enforcement Task Force’s RMBS Working Group over its marketing, sale and issuance of residential mortgage-backed securities (RMBS), according to press releases and settlement agreements released Feb. 11 by the Justice Department and the state attorneys general of New York and Illinois.
(Justice Department settlement agreement available. Document #57-160216-079X. New York attorney general settlement agreement available. Document #57-160216-080X.)