Feb
11

Morgan Stanley to Pay $3.2 Billion Over Flawed Mortgage Bonds

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Eric T. Schneiderman, the New York attorney general, announcing the settlement on Thursday.CreditEduardo Munoz Alvarez/Getty Images

Morgan Stanley will pay $3.2 billion to strike a settlement with state and federal authorities over the Wall Street firm’s creation of mortgage-backed bonds before the financial crisis.

Nearly a year ago, Morgan Stanley announced that it expected to pay $2.6 billion to federal authorities in the settlement. Since then, though, Morgan Stanley was pushed to offer more money. Much of the additional money will go to New York State…

Morgan Stanley to Pay $3.2 Billion Over Flawed Mortgage Bonds

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