UBS Group said on Monday that it will pay $300 million to settle lingering obligations tied to a Credit Suisse deal with the U.S. Department of Justice (DOJ) over the sales of residential mortgage-backed securities (RMBS).

UBS inherited the obligations when it acquired Credit Suisse in a 2023 rescue arranged by Swiss regulators. The bank confirmed on Monday that its U.S. Credit Suisse Securities LLC unit entered into the new agreement with the DOJ on Aug. 1, which will result in a credit to third-quarter results for its noncore and legacy business.

The payment will resolve consumer-relief commitments that details ⇒

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