News Summary: JPM, Credit Suisse paying $417M

Associated Press Published: November 16, 2012

SETTLING CHARGES: JPMorgan Chase and Credit Suisse have agreed to pay a combined $417 million to settle federal civil charges that they sold risky mortgage bonds to investors ahead of the 2008 financial crisis that the banks knew could fail.

PROFITING FROM PRACTICES: The banks also failed to properly disclose their practices that allowed them to profit while investors lost millions, the Securities and Exchange Commission said.

MAKING PAYMENTS: JPMorgan is paying $296.9 million and Credit Suisse will pay $120 million. The banks agreed to settle the charges without admitting or denying wrongdoing.


Trending Now


  1. 1
    Dave Chappelle Reveals Shockingly Buff New Look
  2. 2
    Peaches Geldof Funeral to Be Held on Easter Monday
  3. 3
    Mayor Who Fired Lesbian Police Chief Caught On Tape In Homophobic Tirade
  4. 4
    NBA commissioner wants to raise age limit to 20
  5. 5
    Dream guitars I wouldn't mind calling my own (34 Photos)
+ show more