(CercleFinance.com) – Credit Suisse announces that it has reached a final settlement with the New Jersey Attorney General (NJAG) regarding its residential mortgage-backed securities (RMBS) business with transactions dating back to before 2008.
Under the agreed terms, it will pay out $495 million all at once to fully resolve claims related to more than $10 billion of RMBS at issue, for which the NJAG had alleged more than $3 billion in damages.
“The settlement, for which Credit Suisse is fully provisioned, marks another important step in the bank’s efforts to proactively resolve disputes and legacy issues,” comments the Swiss bank.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
