Moody’s To Pay $864M To Settle Claims It Provided Compromised Credit Ratings

Mealey's (January 18, 2017, 11:42 AM EST) -- WASHINGTON, D.C. — Moody’s Corp. and two of its subsidiaries (collectively, Moody’s) will pay approximately $864 million to settle claims with the Department of Justice, 21 states and the District of Columbia arising from the ratings agency’s role in providing compromised credit ratings for residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs), the Justice Department announced Jan. 13....