The bank will pay $495 million to close claims totaling $10 billion over mortgage-backed financial products (RMBS).
Credit Suisse has reached a settlement for facts prior to 2008 regarding mortgage-backed financial products (RMBS). The bank will pay $495 million to close complaints involving a total of $10 billion of these products. The inability of households to repay their loans when interest rates rose led to the 2008 financial crisis.
