The Securities and Exchange Commission (SEC) late Tuesday reached a settlement with H&R Block subsidiary Option One Mortgage Corp.  (OOMC), over charges that the now-defunct subprime lender misled investors that bought some of the firm’s MBS.

Option One, which is now known as Sand Canyon Corp. (SCC), agreed to pay $28.2 million to settle the charges — but without admitting or denying wrongdoing.

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