The National Credit Union Administration sued JPMorgan Securities and Bear Stearns & Co on Monday over alleged misconduct in the sale of $3.6 billion in mortgage securities to credit unions that collapsed on losses from the securities.
Bear Stearns made misrepresentations in connection with the underwriting and subsequent sale of mortgage-backed securities to U.S. Central, Western Corporate, Southwest Corporate and Members United Corporate federal credit unions, the lawsuit alleged.
Showing posts with label Bear Stearns. Show all posts
Showing posts with label Bear Stearns. Show all posts
Monday, December 17, 2012
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