U.S. proposed $5 billion – 7 billion penalty on Credit Suisse on toxic debt

Exclusive: U.S. proposed $5 billion – 7 billion penalty on Credit Suisse on toxic debt – source

The U.S. Department of Justice has asked Credit Suisse to pay between $5 billion and $7 billion to settle a probe over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, a source with knowledge of the matter said, but the bank has resisted settling for that amount.

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