Credit Suisse pays $495M tied to mortgage-backed securities

Published October 17, 2022 4:52 AM

By MICHELLE CHAPMAN
AP Business Writer

Credit Suisse has agreed to pay $495 million as part of a settlement with the U.S. over a yearslong dispute tied to mortgage-backed securities, an investment vehicle that played a central role in the 2008 financial crisis. The Swiss bank said that some of the transactions were prior to 2008. The New Jersey Attorney General, which announced the settlement Monday, filed a lawsuit in 2013 alleging more than $3 billion in damages citing the involvement of Credit Suisse.