April 13, 2016
After adding in prejudgment interest, Credit Suisse will pay the National Credit Union Administration board $50.3 million to settle allegations that the Swiss bank lied about the quality of mortgage-backed securities it sold to two since-failed credit unions, according to a letter filed Wednesday in New York federal court.
March 24, 2016
Credit Suisse will pay $29 million to end a suit by the National Credit Union Administration board alleging the bank lied about the quality of mortgage-backed securities it sold to two credit unions that later failed, according to a deal filed in New York on Thursday.