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The Boston Globe

Business

Marcy Gordon

JPMorgan, Credit Suisse paying $417M in SEC case

WASHINGTON ­— JPMorgan Chase and Credit Suisse have agreed to pay a combined $417 million to settle federal civil charges that they sold risky mortgage bonds to investors ahead of the 2008 financial crisis that the banks knew could fail.

JPMorgan did not warn investors that homeowners were behind on their payments for the mortgages tied to the bonds, the Securities and Exchange Commission said Friday.

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