Governor Andrew Cuomo and Attorney General Eric Schneiderman agreed to split the first $163 million of New York’s $613 million share of a settlement with JPMorgan Chase (JPM) & Co., according to their offices.
The two Democrats had been dueling over the funds, a piece of a $13 billion federal-state settlement with the bank. The deal directs about $81.5 million to Cuomo’s control, where it’ll go toward housing programs, according to Rich Azzopardi, the Cuomo spokesman.
The remaining $81.5 million will be distributed by Schneiderman’s office to anti-foreclosure programs, Matt Mittenthal, a spokesman for Schneiderman, said in a statement.
“This agreement on the first year of funding for the JPMorgan settlement will provide help to those who have been hurt most by the housing crisis, and make certain that this money will be dispersed with maximum accountability and oversight,” Azzopardi said in an e-mailed statemen