This month, the U.S. Justice Department filed a $5 billion lawsuit against credit-ratings agency Standard & Poor's. Several states, including the District of Columbia, followed suit.

Officials say S&P refused to warn investors of a housing market collapse in 2006 because it would be bad for business.

McGraw-Hill, the parent company of S&P, called the suit "meritless."

D.C. Attorney General Irvin B. Nathan discussed the case with Capital Insider.