S&P Reaches $1.38 Billion Settlement with U.S. Government, States
February 3rd, 2015No, it’s not comedy hour this morning on Cryptogon.
Via: Reuters:
McGraw Hill Financial Inc (MHFI.N) and its Standard & Poor Ratings Services unit have reached a $1.38 billion settlement with the U.S. government and several states over ratings of mortgage-backed securities that went sour in the runup to the 2008 financial crisis.
McGraw Hill said it would pay $687.5 million to the U.S. Department of Justice and $687.5 million to 19 states and the District of Columbia.
The settlement contains no findings of violations of law by McGraw Hill or its ratings unit, the company said.