Credit Suisse to Pay $5.3 Billion in U.S. Mortgage Accord
Bloomberg, Dec. 23, 2016–Voegeli, Jeffrey; Foerster, Jan-Henrik
The Swiss lender will pay a $2.48 billion civil penalty and $2.8 billion in relief for homeowners and communities hit by the collapse in home prices, it said in a statement Friday. Credit Suisse will take a pretax charge of about $2 billion in addition to its existing reserves during the fourth quarter.
