JPMorgan, Credit Suisse to pay $400 mln to settle SEC case
WASHINGTON (Reuters) - JPMorgan Chase & Co (JPM.N) and Credit Suisse Group (CSGN.VX) will together pay $400 million to settle civil charges that they misled investors in residential mortgage-backed securities offerings, securities regulators said on Friday.
JPMorgan will pay $296.9 million to settle its charges while Credit Suisse will pay $120 million, the Securities and Exchange Commission said.
Both agreed to settle without admitting or denying the charges.
(Reporting By Aruna Viswanatha and Sarah N. Lynch; Editing by Gerald E. McCormick)
- Tweet this
- Share this
- Digg this
Trending On Reuters
The government unveiled plans on Thursday to invest $137 billion in its decrepit rail network over the next five years, heralding Prime Minister Narendra Modi's aggressive approach to building infrastructure needed to unlock faster economic growth. Article | Full Coverage