A settlement between Credit Suisse and the federal regulator of credit unions has been increased by more than $20 million.
On March 24, Credit Suisse agreed to a $29 settlement to resolve its role in the sale of residential mortgage-backed securities.
The RMBS were sold to
Members United Corporate Federal Credit Union and Southwest Corporate Federal Credit Union.
Both corporate credit unions failed in 2010.
On Thursday, the National Credit Union Administration — which is liquidating agent for the pair of failed financial institutions — said that pre-judgment interest has been determined by the court and added to the settlement.
That brings the total to be paid by Credit Suisse to $50.3 million.
“Credit Suisse will also be liable for attorneys’ fees and expenses in an amount to be determined,” the NCUA stated.
