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