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Credit Suisse becomes the latest institution charged with fraud involving mortgage securities in an investigation that is expected to involve others.
November 20 -
Lawsuits by the Federal Housing Finance Agency that charge Bank of America (BAC), Citigroup (NYSE: C), HSBC and Credit Suisse (CS) with wrongdoing in the sale of securities backed by residential mortgages may advance, a federal judge in Manhattan ruled Wednesday.
November 29 -
Credit Suisse (CS) has won a small victory in a legal battle over its sale of mortgage-backed securities.
November 28 -
Federal regulators are targeting another financial firm in connection with its mortgage activities before the housing crisis.
October 4
Credit Suisse (CS) may be facing a probe by the Department of Justice over the company's sale of securities backed by residential mortgages, Reuters reported Friday, citing people familiar with the matter.
An investigation into the Zurich-based bank by the U.S. Attorney's Office in New Jersey is one of several investigations of banks underway by U.S. attorneys in several districts, according to the news service.
Attorney General Eric Holder said early last year that DOJ had issued
Credit Suisse already faces a series of lawsuits that stem from its underwriting of the securities. In November, New York Attorney General Eric Schneiderman
Schneiderman and Holder co-chair a federal-state working group that was formed last year to probe possible misconduct in the mortgage market. A source close to the working group told American Banker that the group is facilitating action by both state and federal officials.
Credit Suisse also is one of 17 banks being sued by the
The
Matthew Reilly, a spokesman for the U.S. Attorney's office in New Jersey, declined to comment on a possible probe.
Credit Suisse spokesman Jack Grone also declined to comment.
A Department of Justice spokeswoman did not respond to a request for comment.