The National Credit Union Administration yesterday sued Credit Suisse (CS) for allegedly...

|About: Credit Suisse Group AG (CS)|By:, SA News Editor

The National Credit Union Administration yesterday sued Credit Suisse (CS) for allegedly misrepresenting the underwriting and sale of mortgage bonds to three unions that collapsed after paying over $715M for the securities. The suit adds to a report that CS is under a U.S. investigation for its allegedly dodgy mortgage bonds.