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Morgan Stanley agreed to pay $2.6 billion to the Department of Justice after its investigation into the firm's activities leading up to the financial crisis, according to Bloomberg.

The investigation centered on Morgan Stanley's sale of residential mortgage-backed securities.

Federal and state authorities have also reached settlements with JPMorgan Chase, Bank of America and Citigroup in recent months, totaling more than $35 billion in fines and consumer recompense, according to the report. Morgan Stanley also settled with the Federal Housing Finance Agency last year for $1.25 billion after accusations of selling faulty mortgage-backed securities to government-sponsored agencies Fannie Mae and Freddie Mac.

NCUA filed suit against Wells Fargo Bank in December, alleging failure to fulfill obligations to certificate holders, including five corporate credit unions as a trustee for 27 residential mortgage-backed securities. NCUA has also filed suits against Goldman Sachs, JPMorgan Chase, and Wachovia, among others, and settled claims worth more than $335 million with Citigroup, Deutsche Bank Securities, HSBC and Bank of America.

NAFCU supports NCUA's pursuit of legal remedies for the losses incurred by credit unions during the financial crisis, and believes the funds should be returned to credit unions that paid assessments to cover the corporate losses.