Particle.news
Download on the App Store
4 ARTICLES
·
3w ago

UBS to Pay $300 Million to Resolve Credit Suisse’s U.S. Mortgage Relief Obligations

The payment concludes Credit Suisse’s consumer relief requirements from its 2017 Justice Department mortgage-backed securities accord.

Image
UBS Group and Credit Suisse logos are seen in this illustration taken March 18, 2023. REUTERS/Dado Ruvic/Illustration/File photo
Image
Ubs pays price for credit suisse rescue with $300m deal

Overview

  • UBS will pay $300 million to fulfill all remaining consumer relief duties under Credit Suisse’s 2017 U.S. Department of Justice RMBS settlement.
  • The 2017 agreement held Credit Suisse responsible for $5.7 billion in claims over alleged misrepresentations in residential mortgage-backed securities before the 2008 financial crisis.
  • Past resolutions include a $495 million settlement with New Jersey authorities in 2022 and a $511 million U.S. tax-evasion agreement reached in May 2025.
  • UBS said the deal reflects its commitment to clearing inherited legal liabilities swiftly and equitably in the interests of its stakeholders.
  • Funding from UBS’s non-core unit is expected to release contingent liabilities and boost third-quarter results by freeing up provisions.