UBS AG has agreed to pay $33 million to resolve a U.S. regulator's claims that it sold toxic mortgage-backed securities to credit unions that later failed, Reuters reported yesterday. The deal, disclosed in a filing in Manhattan federal court, resolves one of several lawsuits by the National Credit Union Administration against banks over their sale of mortgage-backed securities before the 2008 financial crisis. The deal boosts to nearly $2.46 billion the amount the NCUA has recovered from banks through lawsuits it began filing in 2011, according to statistics previously provided by the U.S. regulator.
