Morgan Stanley paid $2.6 billion over misleading mortgage-backed securities
Company: Morgan Stanley
Summary
Morgan Stanley agreed to pay a $2.6 billion penalty over its marketing, sale and issuance of residential mortgage-backed securities. It acknowledged failing to disclose critical information about loan quality and due diligence and securitizing thousands of loans despite information indicating serious defects. Source: https://www.justice.gov/archives/opa/pr/morgan-stanley-agrees-pay-26-billion-penalty-connection-its-sale-residential-mortgage-backed