In one of the biggest cases stemming from the financial crisis.
In one of the U.S. Securities and Exchange Commission’s biggest cases tied to the 2008 financial crisis, former Fannie Mae Chief Executive Daniel Mudd has reached a settlement with regulators, according to court papers filed on Monday.
The deal with the SEC, detailed in papers filed in Manhattan federal court, resolves a 2011 lawsuit accusing Mudd of misleading investors about Fannie’s exposure to risky mortgages before the crisis.
Mudd had denied wrongdoing and he did not admit any in the Monday agreement. The deal concludes one of the SEC’s few remaining cases tied to the housing downturn.
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