Credit Suisse to pay $5.3 billion to settle DOJ probe
Zurich-based Credit Suisse, one of several European banks that have been working toward a settlement on the mortgage-backed securities issue, said its deal includes a penalty from the Justice Department of $2.48 billion, and consumer-relief payments of about $2.8 billion, to be paid over five years.
The bank said it would take a $2 billion charge to its results in the current quarter.
The settlement is still subject to the "negotiation of final documentation," the bank said. ■