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Swiss banking giant Credit Suisse (CS – Get Report) has settled claims that it sold toxic mortgage securities, which helped lead to the fall of three federal credit unions, for $400 million.
Credit Suisse Group ( CS) resolved a lawsuit filed in 2010 by bond insurer ambac financial group, Inc. The terms of the settlement were undisclosed. The plaintiff alleged that DLJ Mortgage Capital.
Credit Suisse First Boston Mortgage Securities Corp., et al. Credit Suisse is pleased to have reached an amicable settlement with MassMutual that allows the bank to put this legacy matter behind it. Credit Suisse will take a pre-tax charge of approximately USD 79.5 million in addition to its existing reserves against this matter.
In February, Flagstar lost a federal lawsuit and was ordered to pay $90.1 million to a bond insurer, New york city-based assured guaranty municipal Corp., over the same issues in 2005 and 2006.
· Credit Suisse Group was ordered to face a $10 billion lawsuit by New York s attorney general accusing the Swiss bank of fraud in the sales of mortgage-backed securities before the.
Credit Suisse Group (CS – Free Report) resolved a lawsuit filed in 2010 by bond insurer Ambac Financial Group, Inc. The terms of the settlement were undisclosed. The terms of the settlement were.
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The lender falsely assured investors that. DoJ’s investigation into the sale of mortgage-backed securities. The figure is considerably lower than the bn originally sought. Credit Suisse has.
Allstate filed lawsuits against Countrywide, GMAC and Residential Funding, J.P. Morgan, Citigroup, Deutsche Bank, Merrill Lynch, Credit Suisse, and Goldman Sachs. In its complaints, Allstate alleged common-law fraud, negligent misrepresentation, and in several cases, violations of.
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Credit Suisse Group AG has reached a confidential settlement with Assured Guaranty Ltd on claims related to what the insurer said were defective loans underlying mortgage-backed securities, court.
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Repurchases have already cost the four biggest U.S. lenders $9.8 billion, according to Credit Suisse Group. the disputes over mortgage repurchases as a battle, while Dominic Frederico, CEO of.