Credit Suisse Pays $885M To Settle FHFA's RMBS Claims

Law360, Los Angeles (March 21, 2014, 6:15 PM EDT) -- Credit Suisse Holdings Inc. and affiliates have agreed to pay $885 million to settle claims brought by the Federal Housing Finance Agency in two lawsuits alleging violations of federal and state securities laws in connection with private-label residential mortgage-backed securities, the parties announced Friday.

The FHFA, on behalf Fannie Mae and Freddie Mac, brought the claims in New York federal court in connection with the sale of approximately $16.6 billion of RMBS between 2005 and 2007. Under the terms of the agreement, Credit Suisse will pay...
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