Credit Suisse will pay £434m to settle claims in the US that it mis-sold mortgage-linked investments
Credit Suisse will pay £434m to settle claims in the US that it mis-sold mortgage-linked investments dating back to the 2008 financial crisis.
The troubled bank has been paying out billions in fines to end cases related to its residential mortgage-backed securities (RMBS) business.
Credit Suisse ‘misled investors and engaged in fraud or deceit in connection with the offer and sale of RMBS’, the New Jersey Attorney General said.
It came as Bloomberg reported that the boss of Credit Suisse’s investment bank, Christian Meissner, who took the role last year as the bank struggled to recover from a string of scandals, will announce his resignation later this month.
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