JPMorgan, Credit Suisse to pay $400 mln to settle SEC case

Source : REUTERS
Last Updated: Sat, Nov 17, 2012 04:05 hrs
The entrance to JPMorgan Chase's international headquarters on Park Avenue is seen in New York

JPMorgan Chase & Co and Credit Suisse Group will together pay $400 million to settle civil charges that they misled investors in residential mortgage-backed securities offerings, securities regulators said on Friday.

JPMorgan will pay $296.9 million to settle its charges while Credit Suisse will pay $120 million, the Securities and Exchange Commission said.

Both agreed to settle without admitting or denying the charges.

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