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Thursday, March 28, 2024 | Back issues
Courthouse News Service Courthouse News Service

SEC Issues Report on Credit Rating Agencies

WASHINGTON (CN) - The SEC on Wednesday claimed it has new rules that will force credit-rating agencies to be honest, to prevent the lucrative mutual back-rubs with lenders that stoked the subprime mortgage catastrophe. The SEC said its new rules were "informed by" its examination of three major credit rating agencies, which found "significant weaknesses in ratings practices."

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