JP Morgan Chase and Credit Suisse will together pay $417m (£263m) to settle charges that they misled investors in residential mortgage-backed securities offerings, US regulators have said. JP Morgan has agreed to pay $296.9m to settle the charges while Credit Suisse will pay $120m, the Securities and Exchange Commission (SEC) said. Both banks agreed to settle without admitting or denying the charges. The SEC said it plans to distribute the money to harmed investors. The SEC said that JP Morgan received fees of more than $2.7m, and investors sustained losses of at least $37m on these undisclosed bad loans.....Read more here: BBC News - JP Morgan and Credit Suisse pay $417m to settle securities charges