State Street Corporation agrees to a fine for its involvement in the mortgage security scandal.
February 4, 2010
State Street agrees to pay $333 million in restitution and fines for failing to inform clients about high-risk investments in sub-prime mortgage-backed bonds. The investors include about 50 Massachusetts charities, religious groups, schools and pension systems. It is the largest securities recovery by the Massachusetts Attorney General’s office since the financial crisis of 2008.