Credit Suisse Nearing U.S. Mortgage Settlement, Reuters Reports
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Justice Department is said to have sought more than $5 billion
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Firm is confident it’ll reach deal for less, publication says
A Credit Suisse logo sit on a wall outside Credit Suisse Group AG’s headquarters in Zurich.
Photographer: Gianluca Colla/Bloomberg
Credit Suisse Group AG may reach an agreement as soon as this week to settle a U.S. investigation into its handling of mortgage-linked securities before the 2008 financial crisis, Reuters reported.
Switzerland’s second-largest bank is confident it can reach a resolution for less than the $5 billion to $7 billion that the Department of Justice has demanded, the publication quoted an unidentified person familiar with the talks as saying, without specifying when that request was made. Chief Executive Officer Tidjane Thiam met with U.S. Attorney General Loretta Lynch last week, it said…
Credit Suisse Nearing U.S. Mortgage Settlement, Reuters Reports
