The NCUA announced Thursday that it will receive $50.3 million in damages and interest from Credit Suisse.
Settling on claims arising from Members United and Southwest corporate credit union losses, the NCUA's collection amount will be higher than the $29 million it accepted in the judgment in March. In addition to the prejudgment interest settlement determined by the court, Credit Suisse will be liable for the attorney's fees, which are yet to be determined.
The claims stemmed from the corporate credit unions' purchases of residential mortgage-backed securities from Credit Suisse.
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