morgan_stanleyMorgan Stanley has agreed to pay $102 million to settle an investigation in Massachusetts into the investment bank’s subprime lending practices, a source familiar with the matter said on Thursday. Attorney General Martha Coakley’s office will announce details about the settlement at a news conference at 1 p.m.

Coakley has aggressively pursued Wall Street firms for their lending practices in the state. Earlier this year, the state was part of a group that won a $310 million settlement against State Street . A year ago, Massachusetts settled with Goldman Sachs for $60 million.

 

Source: Morgan Stanley to Settle Mass. Probe

by Banker & Tradesman time to read: <1 min
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