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Credit Suisse settles N.Y. probe

September 17, 2008|From Times Wire Services

Credit Suisse Group will buy back $548 million in auction-rate securities and pay a $15-million fine to settle a probe into the sale of the risky investments, the New York attorney general's office said.

The Swiss banking giant becomes the latest institution to settle state and federal investigations, with penalties now totaling more than $1 billion.

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