US says UBS to pay $1.43 billion for alleged fraud over residential mortgage-backed securities

WASHINGTON (Reuters) - Banking group UBS and many of its U.S.-based affiliates have agreed to pay $1.43 billion in penalties to settle a civil action filed in 2018 alleging fraud in the sale of residential mortgage-backed securities, the Justice Department said on Monday.

(Reporting by Kanishka Singh in Washington; Editing by Chris Reese)