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Credit Suisse to pay $885 mln in FHFA settlement

March 21st, 2014 by [shareaholic app="share_buttons" id="27157108"]

By Around the Web NEW YORK (MarketWatch) – Credit Suisse will pay $885 million to settle claims from the Federal Housing Finance Agency about mortgage-backed securities that the bank sold between 2005 and 2007. The FHFA filed lawsuits against 18 banks in 2011, accusing them of misleading Fannie Mae and Freddie Mac about the quality of the mortgage securities the banks were selling to Fannie and Freddie. The FHFA has yet to settle with Bank of America Corp. and Goldman Sachs Group Inc. , among others….(read more)

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