A United Corporate Federal Credit Union unit is to pay over $33m to settle allegations by the National Credit Union Association (NCUA) that the bank lied on offering documents for residential mortgage-backed securities, thereby marking a close to a long-running suit, filed by the NCUA in its role as liquidating agent for Southwest Corporate Federal Credit Union and Members UBS; United Corporate Federal Credit Union does not admit liability for the allegations.
A UBS unit is to pay over $33m to settle allegations by the National Credit Union Association (NCUA) that the bank lied on offering documents for residential mortgage-backed securities, thereby marking a close to a long-running suit, filed by the NCUA in its role as liquidating agent for Southwest Corporate Federal Credit Union and Members United Corporate Federal Credit Union; UBS does not admit liability for the allegations.