New York Attorney General Eric T. Schneiderman-Led State & Federal Working Group Announces $3.2 Billion Settlement With Morgan Stanley - Settlement Includes $550 Million For New York, Including Millions To Help New Yorkers Avoid Foreclosure And Rebuild Their Communities - Significant Resources Dedicated To Transforming Code Enforcement Systems And Combating Proliferation Of Zombie Homes - Settlement Addresses Misconduct That Contributed To The 2008 Financial Crisis - Schneiderman: Todayâs Settlement Is Another Victory In Our Effort To Help New Yorkers Rebuild And Hold Banks Accountable

Attorney General Eric T. Schneiderman today joined members of the state and federal working group he co-chairs to announce a $3.2 billion settlement with Morgan Stanley over the bank’s deceptive practices leading up to the financial crisis.  The settlement includes $550 million – $400 million worth of consumer relief and $150 million in cash – that will be allocated to New York State.