JPMorgan, Credit Suisse Settle SEC Mortgage Inquiries
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JPMorgan Chase & Co. and Credit Suisse Group AG agreed to pay almost $417 million to settle U.S. regulatory claims they misled investors while selling billions of dollars of investments linked to home loans.
JPMorgan resolved claims that it made misstatements about delinquency data for loans packaged into securities and that Bear Stearns Cos., which the bank acquired in 2008, didn’t tell mortgage investors it kept reimbursements on soured loans, the Securities and Exchange Commission said in a statement. Credit Suisse was also faulted for disclosures on reimbursements.