Barclays fights RMBS penalty as Deutsche and Credit Suisse settle

摘要

Credit Suisse and Deutsche Bank were hit with a combined penalty of more than US$12bn just before Christmas for the mis-selling of US mortgage-backed securities, but Barclays rejected a settlement and plans to fight the charges. Credit Suisse agreed a US$5.3bn settlement, which includes a US$2.5bn penalty to settle claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis. The balance of the settlement is to provide US$2.8bn over five years to offset the impact on consumers.