Morgan Stanley to pay $2.6B to settle charges
Corporate Law
Morgan Stanley said Wednesday it has agreed to pay $2.6 billion to settle with the federal government over its role in the mortgage bubble and subsequent financial crisis.
The settlement makes Morgan Stanley the latest Wall Street bank to reach a settlement with federal authorities, following the billions paid by JPMorgan Chase, Bank of America and Citigroup.
The $2.6 billion will go to "resolve certain claims" the Justice Department intended to bring against Morgan Stanley related to its mortgage division, the bank said in a regulatory filing.
The Justice Department declined to comment. In the regulatory filing, Morgan Stanley said the agreement is not been finalized and could fall though.
Morgan Stanley said Wednesday it has agreed to pay $2.6 billion to settle with the federal government over its role in the mortgage bubble and subsequent financial crisis.
The settlement makes Morgan Stanley the latest Wall Street bank to reach a settlement with federal authorities, following the billions paid by JPMorgan Chase, Bank of America and Citigroup.
The $2.6 billion will go to "resolve certain claims" the Justice Department intended to bring against Morgan Stanley related to its mortgage division, the bank said in a regulatory filing.
The Justice Department declined to comment. In the regulatory filing, Morgan Stanley said the agreement is not been finalized and could fall though.
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