UBS Settles Credit Suisse Obligations with $300 Million Payment Under DOJ Agreement

UBS Agrees to Pay $300 Million to Fulfill Credit Suisse's Legal Commitments By Adria Calatayud UBS Group announced that it has reached a settlement with the U.S. Department of Justice, agreeing to pay $300 million to address pending obligations related to Credit Suisse. The Swiss banking giant, which acquired Credit Suisse earlier in 2023, stated that its subsidiary, Credit Suisse Securities (USA) LLC, has entered into an agreement with the DOJ to settle all remaining commitments stemming from a 2017 legal resolution concerning Credit Suisse's former residential mortgage-backed securities practices. UBS indicated that it anticipates recording a credit in its third-quarter financial statements for its non-core and legacy assets, reflecting the release of potential liabilities identified during the Credit Suisse acquisition. For further details, contact Adria Calatayud at [email protected] (END) Dow Jones Newswires August 04, 2025, 01:31 ET (05:31 GMT) Copyright (c) 2025 Dow Jones & Company, Inc. Please note: The content includes third-party materials provided for informational purposes, which are not endorsed or verified by Morningstar. Users should exercise independent judgm...