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The bank said it has reached a final settlement with the New Jersey Attorney General to resolve claims related to more than $10 billion RMBS that were issued.
The attorney general’s office had claimed more than $3 billion in damages in a case which was filed in 2013.
“Credit Suisse is pleased to have reached an agreement that allows the bank to resolve the only remaining RMBS matter involving claims by a regulator and the largest of its remaining exposures on its legacy RMBS docket,” the bank said in a statement.
“The settlement, for which Credit Suisse is fully provisioned, marks another important step in the bank’s efforts to pro-actively resolve litigation and legacy issues.”
