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JPMorgan Chase & Co, Credit Suisse Group AG Settle SEC Cases-Reuters

Friday, 16 Nov 2012 03:05pm EST 

Reuters reported that JPMorgan Chase & Co and Credit Suisse Group AG will pay a combined $416.9 million to settle U.S. civil charges that they sold risky mortgage bonds to investors prior to the 2008 financial crisis. The U.S. Securities and Exchange Commission said on Friday that JPMorgan will pay $296.9 million and Credit Suisse will pay $120 million, with the money going to harmed investors. The banks settled without admitting wrongdoing, and in separate statements said they were pleased to settle. 

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