By Karen Freifeld
NEW YORK (Reuters) - Credit Suisse formally agreed to pay $5.3 billion to settle with U.S. authorities over claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis, the U.S. Department of Justice said said on Wedenesday.
Zurich-based Credit Suisse will pay a $2.48 billion cash penalty and provide $2.8 billion in consumer relief, the Justice Department said in a statement.
Credit Suisse had announced the agreement in principle on Dec. 23.
(Reporting By Karen Freifeld; Editing by Chizu Nomiyama)
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