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...
San Francisco will offer free childcare to families earning less than $230,000 a year, and a...
Scott Adams, the author and cartoonist whose "Dilbert" comic strip satirized corporate life to wide acclaim...
Workers at popular New York City bakery chain Breads Bakery announced a move to unionize, claiming...
