With the latest settlement, the DOJ collected more than $36 billion in civil penalties from 18 institutions, including Bank of America, Citigroup, Deutsche Bank and Wells Fargo.
August 14, 2023 at 04:56 PM
3 minute read
The U.S. Attorney’s Office for the Eastern District of New York on Monday announced that UBS has agreed to pay $1.4 billion to settle a civil action related to its underwriting and issuance of residential mortgage-backed securities in 2006 and 2007 ahead of the 2008 financial crisis.
The settlement brings an end to the final case brought by a U.S. Department of Justice working group focused on investigating banks and other entities that issued RMBS in the years preceding the financial crisis.
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