N.Y. Budget Blocks A.G. From Controlling Settlement Cash
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The budget deal reached by Governor Andrew Cuomo and lawmakers would require New York’s attorney general to cede control of cash obtained from settlements to the governor and legislature.
The move would cap a fight between Cuomo and Attorney General Eric Schneiderman, a fellow Democrat, over New York’s $613 million share of a $13 billion federal-state settlement with JPMorgan Chase & Co. That November accord ended probes into the bank’s mortgage-bond practices and put the funds under Schneiderman’s supervision.