© 2023 KRWG
News that Matters.
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations
Silver City FM Outage

New Mexico recoups $24 million in mortgage-crisis settlement


SANTA FE, N.M. (AP) — State prosecutors say New Mexico’s public pension and investment funds will receive $24 million from several major financial institutions to resolve a lawsuit over mortgage-backed securities and the financial crisis more than a decade ago.

New Mexico Attorney General Hector Balderas on Monday announced the settlement with seven financial institutions, including Barclays Capital, Goldman Sachs and Merrill Lynch. The settlement resolves allegations of inadequate disclosures about mortgage-backed securities that were purchased by the public pension and investment funds.

Claims were dismissed with no admission of liability.