A new set of documents being examined.
U.S. prosecutors are examining a new set of Credit Suisse documents, including internal emails, that may show whether a bank committee charged with overseeing the quality of home loans ignored red flags to the detriment of mortgage investors, according to a source familiar with the documents.
Reuters reports that the internal bank group, called the Watch List Committee, was established in 2005 as Credit Suisse's mortgage securitization business grew. Its job was to make sure that bad loans were not included in securities that the bank sold to investors.
The emails, which have not been previously reported and were described to Reuters by the source, could play a key role in any action that prosecutors may decide to bring against Credit Suisse for its mortgage activities before the housing bust.
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