The Massachusetts state employees' pension fund will receive more than $11 million as part of a settlement with Countrywide Securities Corp., state Attorney General Martha Coakley said Monday.
The settlement was announced as part of Coakley's industry-wide review of residential mortgage securitization practices in Massachusetts.
The total settlement with Countrywide is $17.3 million. It includes a $6 million payment to the state.
The pension fund can also expect to receive an additional $7 million early in 2014 as a result of a $34 million settlement with JPMorgan announced by Coakley's office last month.
The settlements with Countrywide and JPMorgan are the latest in a series of six similar settlements with total payments of more than $300 million going back to 2009, according to Coakley.
They include settlements with Goldman Sachs ($60 million), Morgan Stanley ($102 million), Royal Bank of Scotland ($52 million), and Barclays Bank ($36 million).
More...
The self-proclaimed largest truck stop in the world offers drivers just about everything they might need...
One person has died and 36 others were injured Friday afternoon when a vessel exploded at...
Government officials in Orange county, California, have warned that an overheated chemical tank “will fail” and...
Three people died and 18 first responders were sickened by exposure to fentanyl in a rural...
