LATEST NEWS

Swiss bank has already paid $230m to New York and says it was a victim of financial crisis

The Swiss bank UBS has pledged to vigorously defend itself in a pending lawsuit by the US justice department, which has already clawed billions of dollars from lenders over the mis-selling of complex financial products that contributed to the 2008 financial crash.

The Department of Justice (DoJ) told UBS it planned to file a case as early as Thursday, which is set to focus on the sale of residential mortgage-backed securities (RMBS) in 2006 and 2007.

Continue reading...

from US news | The Guardian https://ift.tt/2JPKDH9