Moody's to pay $864M to settle claims it inflated ratings

The AP reports:

Moody's Corp. has agreed to pay nearly $864 million to settle federal and state claims it gave inflated ratings to risky mortgage investments in the years leading up to the financial crisis.

The deal announced Friday was struck among the New York-based rating agency, the Justice Department and the attorneys general for 21 states and the District of Columbia.

It calls for $437.5 million to go to the Justice Department and $426.3 million to be divided among the states and the District of Columbia.

The Obama regime in action.