07 Jan 2019
Credit Suisse has reportedly reached a deal with the New York State Attorney General’s office over misconduct allegations regarding residential mortgage-backed securities (RMBS).
Prosecutors had sought billions over the case, in which the bank was accused of misrepresenting the quality of loans linked to MBS during the financial crisis. Instead, it will pay a two-digit million dollar sum as part of a settlement, Reuters reported, adding that the bank said it is “pleased” to have the case closed.
The Swiss lender reportedly declined to say the exact amount reached.
Count reading this article to your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet