Credit Suisse Pays $400 Million to End Mortgage-Securities Suit

By Jesse Hamilton, Bloomberg News

Credit Suisse Group AGpaid $400 million to settle a U.S. regulator’s claims that the bank’s improper sales of mortgage-backed securities contributed to the collapse of three corporate credit unions, the agency said Wednesday.

The agreement with theNational Credit Union Administrationresolves allegations in a 2012 lawsuit filed by the agency over the Zurich-based bank’s sales to corporate credit unions -- financial institutions that provide loans and other services to customer-facing credit unions.Credit Suissesettled without admitting or denying wrongdoing, NCUA said.

This is the latest in a series of deals NCUA has ...