Delaware is receiving nearly $20 million from the historic $13 billion settlement between banking giant J.P. Morgan Chase and the U.S. Justice Department.
Attorney General Beau Biden’s office announced that money will go to several state entities in order to recoup their investment losses from toxic mortgage-backed securities.
Part of the settlement will also go toward programs aimed at helping Delawareans still struggling after the financial crisis.
Those investments proved volatile, helping spark the economic downturn in 2008.
The $13 billion overall settlement is the largest penalty paid by a single corporation to the federal government.