{"id":6145,"date":"2017-05-04T20:19:20","date_gmt":"2017-05-05T01:19:20","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1557"},"modified":"2022-03-22T15:07:19","modified_gmt":"2022-03-22T20:07:19","slug":"ubs-credit-suisse-settle-mortgage-backed-securities-cases-445m-400m-respectively","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ubs-credit-suisse-settle-mortgage-backed-securities-cases-445m-400m-respectively\/","title":{"rendered":"UBS and Credit Suisse Settle Mortgage-Backed Securities Cases With for $445M and $400M, Respectively"},"content":{"rendered":"

\t\t\t\tUBS Group AG (UBS)<\/a> has paid the National Credit Union Administration $445M to settle claims brought on behalf of Western Corporate Federal Credit Union and U.S. Central Federal Credit Union, which both failed after they sustained losses from residential mortgage-backed securities they purchased through the broker-dealer.The two credit unions went into conservatorship several years ago and have since shut down.<\/p>\n

UBS settled this latest case without denying or admitting to wrongdoing. The lender had previously paid NCUA $79.3M to resolve similar allegations involving two other credit unions that also failed. With that settlement, the bank also did not deny or admit wrongdoing. <\/p>\n

To date, NCUA has recovered nearly $5B in settlements from big banks related to the faulty securities that they sold to corporate credit unions. <\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UBS Group AG (UBS) has paid the National Credit Union Administration $445M to settle claims brought on behalf of Western Corporate Federal Credit Union and U.S. Central Federal Credit Union, which both failed after they sustained losses from residential mortgage-backed securities they purchased through the broker-dealer.The two credit unions went into conservatorship several years ago […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3756,3817,3757,3755],"tags":[2756,2789,2799,2641],"class_list":["post-6145","post","type-post","status-publish","format-standard","hentry","category-barclays-capital","category-credit-suisse","category-mortgagebacked-securities","category-ubs","tag-barclays","tag-ncua","tag-nomura-securities-international","tag-rmbs-fraud"],"yoast_head":"\nUBS and Credit Suisse Settle Mortgage-Backed Securities Cases With for $445M and $400M, Respectively — Investor Lawyers Blog — May 4, 2017<\/title>\n<meta name=\"description\" content=\"UBS Group AG (UBS) has paid the National Credit Union Administration $445M to settle claims brought on behalf of Western Corporate Federal Credit Union — May 4, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/ubs-credit-suisse-settle-mortgage-backed-securities-cases-445m-400m-respectively\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"UBS and Credit Suisse Settle Mortgage-Backed Securities Cases With for $445M and $400M, Respectively — Investor Lawyers Blog — May 4, 2017\" \/>\n<meta name=\"twitter:description\" content=\"UBS Group AG (UBS) has paid the National Credit Union Administration $445M to settle claims 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