Credit Suisse (NYSE:CS) experienced a fourth quarter loss of 637 million Swiss francs ($698 million). This was after taking a 981 million franc charge to speed cost cutting and offload risky assets. Consensus had been for a 430 million franc profit, but the performance or lack thereof reflects gloomy market conditions and the impact of responding to “evolving market and regulatory requirements.”

Don’t Miss: Banks Reach $25 Billion Settlement Over Mortgage Fraud, Foreclosures.

California Attorney General Kamala Harris says that California will receive $18 billion in the national mortgage settlement. Her tactic of leaving the talks for a few months and then coming back in at last moment appears to have paid off.  As reported by the official Web site, the settlement total will be $1 billion less than expected; $25 billion.

Bank of America (NYSE:BAC), Wells Fargo & Company (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM) and Citigroup, Inc. (NYSE:C) are the four big banks listed in the national mortgage settlement. The deal does not put a cap on the banks’ legal liabilities.

Assured Guaranty (NYSE:AGO) doubles its dividend payout to $0.09 per share. It is citing the success of the firm’s strategic initiatives as a reason for the hike. Shares now trade with a 2.05% yield.

Don’t Miss: Dick Bove: Everyone Stop Paying Your Mortgage NOW!

To contact the reporter on this story: at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!