“A Credit Suisse Group AG (CSGN) unit was accused in a lawsuit by a U.S. credit union regulator of selling faulty mortgage-backed securities to three credit unions, causing them to collapse.
Credit Suisse Securities misrepresented the securities’ risks, leading the credit unions to believe there was little chance of losing money when they bought $715 million worth of them, the National Credit Union Administration said in a complaint filed yesterday in federal court in Kansas City, Kansas.”
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