UBS agrees US$885m deal for subprime lawsuit

UBS, Switzerland's largest bank, has agreed to pay US$885 million to Fannie Mae and Freddie Mac to settle claims that it improperly sold them mortgage-backed securities during the housing bubble, a US regulator said.

via Business feed http://www.scmp.com/business/banking-finance/article/1291603/ubs-agrees-us885m-deal-subprime-lawsuit