UBS to pay $300 million to settle consumer relief responsibility

According to a statement, UBS has reached an agreement with the US Department of Justice to resolve legacy issues related to unpaid debts under an agreement reached with the Department of Justice in 2017. The agreement involves UBS's legacy residential mortgage-backed securities business. On August 1, UBS Securities reached an agreement with the Department of Justice to pay $3 billion to settle all consumer relief obligations under the 2017 agreement.