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Swiss bank will pay $885 million settlement for selling shoddy mortgage bonds in U.S.

Swiss bank Credit Suisse agreed Friday to pay $885 million to settle U.S. charges it sold shoddy mortgage bonds to Fannie Mae and Freddie Mac ahead of the financial crisis. Credit Suisse will pay about $651 million to Fannie and $234 million to Freddie, said the Federal Housing Finance Agency,…