: UBS to pay $1.44 billion in Department of Justice settlement

UBS has agreed to pay $1.44 billion to settle a Justice Department case tied to the issuance of residential mortgage-backed securities in the buildup to the 2008-09 financial crisis. The agreement concludes the last outstanding case brought by the DoJ against major banks, an initiative that collected $36 billion in settlements from nearly 20 financial institutions, according to the DOJ.

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