Credit Suisse to pay $495 mn in US to settle securities case

Summary by Ground News

Credit Suisse has agreed to pay $495 million to settle a case brought against it in the United States, the latest pay-out related to past blunders that have battered the Swiss bank's reputation. Credit Suisse was criticised for not having provided sufficient information on the risks relating to $10 billion of mortgage-backed securities. Subprime mortgages were at the heart of the 2008 financial crisis.

Published 4 months ago · New Brunswick, United States

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Times of India

Credit Suisse pays $495 million to settle legacy case

Credit Suisse said it would make the pay-out to settle claims brought by the New Jersey Attorney General related to the bank's residential mortgage-backed security (RMBS) business before 2008.

4 months ago·Mumbai, India

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News18 India

Credit Suisse Pays $495 Million Tied to Mortgage-backed Securities

New Jersey Attorney General, which announced the settlement Monday, filed a lawsuit in 2013 alleging more than $3 billion in damages citing the involvement of Credit Suisse

4 months ago·India

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Reuters

Credit Suisse pays $495 mln to settle legacy U.S. case

Credit Suisse has agreed to pay $495 million to settle a case related to mortgage-linked investments in the United States, the latest pay-out related to past blunders that have battered the Swiss bank's reputation.

4 months ago·United Kingdom

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Associated Press News

Credit Suisse pays $495M tied to mortgage-backed securities

Credit Suisse has agreed to pay $495 million as part of a settlement with the U.S. over a yearslong dispute tied to mortgage-backed securities, an investment vehicle that played a central role in the 2008 financial crisis.

4 months ago·United States

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abc News

Credit Suisse pays $495M tied to mortgage-backed securities

4 months ago·United States

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KRDO

Credit Suisse pays $495M tied to mortgage-backed securities

By MICHELLE CHAPMAN AP Business WriterCredit Suisse has agreed to pay $495 million as part of a settlement with the U.S. over a yearslong dispute tied to mortgage-backed securities, an investment vehicle that played a central role in the 2008 financial crisis. The Swiss bank said that some of the transactions were prior to 2008. The New Jersey Attorney General, which announced the settlement Monday, filed a lawsuit in 2013 alleging more than $3 …

4 months ago·Colorado Springs, United States

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