U.S. credit union regulator sues Credit Suisse

Thu Oct 4, 2012 6:57pm EDT

Oct 4 (Reuters) - The U.S. credit union regulator filed a lawsuit on Thursday against Credit Suisse Securities (USA) , alleging misrepresentations in the underwriting and sale of mortgage-backed securities.

The National Credit Union Administration said in a statement that three failed credit unions paid more than $715 million for the securities at issue in the lawsuit.

The lawsuit was filed in federal court in Kansas.