UBS AG and several of its U.S.-based affiliates (together, UBS) have agreed to pay $1.435 billion in penalties to settle a civil action filed in November 2018 alleging misconduct related to UBS’ underwriting and issuance of residential mortgage-backed securities (RMBS) issued in 2006 and 2007. This settlement resolves the last case brought by a Justice Department working group dedicated to investigating conduct of banks and other entities for their roles in creating and issuing RMBS leading up to the 2008 financial crisis.
Office of Public Affairs | UBS Agrees to Pay $1 435 Billion for Fraud in the Sale of Residential Mortgage-Backed Securities
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U S Department Of Justice: UBS Agrees To Pay $1 435 Billion For Fraud In The Sale Of Residential Mortgage-Backed Securities - Settlement Brings Total Amount Of Civil Penalties Paid By Banks, Originators, And Ratings Agencies For Such Securities To Over $36 Billion
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