S&P Reaches $1.38 Billion Settlement with U.S. Government, States

February 3rd, 2015

No, 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.

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