Credit Suisse To Pay $495 Mln To Resolve RMBS Legacy Case - Quick Facts

(RTTNews) - Credit Suisse Group (CS) has reached a final settlement with the New Jersey Attorney General related to its Residential Mortgage-Backed Securities business with transactions dating back to before 2008. The company will make a one-time payment of $495 million to fully resolve claims tied to more than $10 billion of RMBS at issue, for which the NJAG had alleged over $3 billion in damages.

Credit Suisse said the agreement resolves the only remaining RMBS matter involving claims by a regulator and the largest of its remaining exposures on its legacy RMBS docket.