UBS pays US$1.435 billion fine at close of US mortgage security saga

Swiss bank UBS and its US subsidiaries have paid US$1.435 billion to settle the last of the civil cases stemming from the sub-prime mortgage scandal that spawned the 2008 financial crisis.

By Sara Lewis

Swiss bank UBS and its US subsidiaries have paid US$1.435 billion to settle the last of the civil cases stemming from the sub-prime mortgage scandal that spawned the 2008 financial crisis.