Financial Fraud: Credit Suisse Made False and Irresponsible Representations About Residential Mortgage-Backed...

Financial Fraud: Credit Suisse Made False and Irresponsible Representations About Residential Mortgage-Backed... Credit Suisse Agrees to Pa...

Financial Fraud: Credit Suisse Made False and Irresponsible Representations About Residential Mortgage-Backed... Credit Suisse Agrees to Pay $5.28 Billion in Connection with its Sale of Residential Mortgage-Backed Securities The Justice Department announced today a $5.28 billion settlement with Credit Suisse related to Credit Suisse’s conduct in the packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities (RMBS) between 2005 and 2007.  The resolution announced today requires Credit Suisse to pay $2.48 billion as a civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).  It also requires the bank to provide $2.