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7 months ago
U.S. banking regulator can sue banks over mortgage bonds -court
January 18, 2017 / 2:42 PM / 7 months ago

U.S. banking regulator can sue banks over mortgage bonds -court

NEW YORK, Jan 18 (Reuters) - A U.S. appeals court on Wednesday revived a lawsuit by the Federal Deposit Insurance Corp against five banks including Credit Suisse Group AG stemming from their sale of mortgage-backed securities ahead of the 2008 financial crisis.

The 2nd U.S. Circuit Court of Appeals in New York ruled that a lower-court judge had erred in dismissing the FDIC's lawsuit, which also named units of HSBC Holdings Plc, Royal Bank of Scotland Group Plc, UBS AG and Deutsche Bank AG as defendants. (Reporting by Nate Raymond in New York; Editing by Chizu Nomiyama)

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