National Credit Union Administration Board v. UBS Securities, LLC et al

  1. May 01, 2017

    UBS Strikes $445M Deal With Credit Union Agency Over RMBS

    UBS Securities LLC has agreed to pay $445 million to the National Credit Union Administration for claims stemming from losses tied to purchases of toxic residential mortgage-backed securities, capping a five-year-old lawsuit in Kansas federal court that the government agency brought on behalf of two credit unions.

  2. January 31, 2017

    UBS, Credit Suisse Can Argue They Did Enough In RMBS Suit

    A Kansas federal judge on Tuesday ruled that UBS Securities LLC and Credit Suisse Securities USA LLC cannot duck responsibility for toxic mortgage-backed securities by claiming the lead underwriters and purchasers should have known better, but can argue their own due diligence was sound.

  3. January 20, 2017

    Credit Suisse, UBS Can't Ditch Credit Unions' RMBS Claims

    A Kansas federal judge has refused a bid by UBS Securities LLC and Credit Suisse Securities USA LLC to ditch claims in suits alleging the banks knowingly sold toxic mortgage-backed securities, saying that the pair could be liable for misstatements in post-sale prospectus supplements.

  4. May 28, 2015

    Credit Unions' RMBS Suits Against UBS, Credit Suisse Revived

    A Kansas federal judge agreed Wednesday to take another look at previously dismissed claims against UBS Securities LLC and Credit Suisse Securities USA LLC in a suit alleging that the banks knowingly sold toxic mortgage-backed securities.

  5. April 14, 2015

    Banks Say 10th Circ. Barclays Ruling Can't Help RMBS Suits

    Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. Inc. and UBS Securities LLC told a Kansas federal judge Monday that the National Credit Union Administration couldn't use a Tenth Circuit decision to revive multimillion-dollar suits over soured residential mortgage-backed securities previously found to be time-barred.

  6. April 23, 2014

    UBS Beats State Law Claims In Credit Board's MBS Suit

    A Kansas federal judge on Tuesday tossed the National Credit Union Administration board's state-law claims alleging UBS Securities LLC misrepresented the risk of about $2 billion in residential mortgage-backed securities it sold to two now-defunct credit unions, finding the claims were time-barred.

  7. September 04, 2013

    Claims Pared From UBS, JP Morgan MBS Suits

    A Kansas federal judge on Tuesday trimmed a pair of lawsuits accusing JP Morgan Securities LLC, UBS Securities LLC and others of misrepresenting the risk of about $2 billion in residential mortgage-backed securities it sold to two now-defunct credit unions, saying many of the claims were time-barred by the so-called extender statute.

  8. September 07, 2012

    Credit Union Watchdog Says UBS Falsely Sold $1.1B In RMBS

    The National Credit Union Administration Board on Thursday hit a UBS AG unit with claims that the banking giant misrepresented the risk of more than $1.1 billion in residential mortgage-backed securities it sold to two now-defunct credit unions.