Attorney General Hood Applauds Multistate Coalition Challenging Standard & Poor’s Rating

February 5, 2013

Attorney General Jim Hood Tuesday welcomed additional federal and state enforcement actions against Standard and Poor’s seeking accountability for alleged misconduct by the credit rating agency involving structured finance securities backed by subprime mortgages that were at the heart of the nation’s financial crisis.

Attorney General Hood has had a consumer protection lawsuit pending against Standard & Poor’s s well as Moody’s, since May 2011.

“I am pleased that the U. S. Department of Justice and attorneys general from across the nation are joining us in our efforts to hold the credit rating agencies accountable by initiating lawsuits like the one we filed almost two years ago,” Attorney General Jim Hood said.

 

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