NCUA Agrees to $29 Million Offer of Judgment from Credit Suisse

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Title : NCUA Agrees to $29 Million Offer of Judgment from Credit Suisse

NCUA Agrees to $29 Million Offer of Judgment from Credit Suisse

The National Credit Union Administration (NCUA) announced acceptance of a $29 million offer of judgment from Credit Suisse to resolve claims arising from losses related to purchases of residential mortgage-backed securities by Members United and Southwest corporate credit unions.

The offer of judgment includes $29 million in damages plus prejudgment interest in an amount to be determined by the Court as well as reasonable attorneys’ fees to be determined by agreement between the parties or by the Court.

NCUA has now obtained more than $2.5 billion in legal recoveries in securities cases.

Read the press release.

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