Credit Suisse settles Assured Guaranty mortgage lawsuit

Terms remain undisclosed

Bloomberg is running an article claiming Credit Suisse settled a three-year-old lawsuit by Assured Guaranty accusing the bank of misrepresenting the quality of loans in mortgage-backed securities it insured:

Assured Guaranty said in a statement posted on its website that it had reached an agreement to resolve the dispute without disclosing the terms. The bond insurer sued Zurich-based Credit Suisse in New York State Supreme Court in October 2011, saying the bank’s misrepresentations exposed it to hundreds of millions of dollars in claim payments.

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