Epilogue: UBS pays to settle last 2008 crisis charges

After 15 years, UBS has finally settled the last remaining charges stemming from the financial crisis, said Margot Patrick and Dean Seal in The Wall Street Journal. The Swiss bank said this week it “will pay $1.44 billion to settle U.S. Justice Department allegations that it defrauded investors who bought bonds backed by mortgages” before the housing market collapsed in 2008. The case wasn’t brought until 2018, “after many of the cases against other banks were settled.” All told, the DOJ collected $36 billion in fines from banks.