$1.4 billion settlement over inaccurate credit ratings

Today, major credit rating agency Standard and Poor's agreed to pay almost $1.4 billion to settle a suit filed by the Justice Department accusing the agency of giving inaccurately high credit ratings for risky financial products in the lead-up to the 2008 financial crisis.

Read more about it here. You can also read a DOJ press statement touting the settlement here, and a statement arguing that the settlement wasn't tough enough here.

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