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Credit Suisse to pay $885 million to settle MBS claims

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Credit Suisse (CS) reached an agreement with the Federal Housing Finance Agency to pay $885 million to resolve claims related to mortgage-backed securities.

Under the agreement, Credit Suisse will pay $234 million to Fannie Mae and $651 million to Freddie Mac.

This marks the ninth settlement the FHFA has announced in relation to the 18 private-label MBS lawsuits the agency filed in 2011.   

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