RBS Agrees on $4.9 Billion Settlement over US Mortgage Charges

[kreslik.news]

Royal Bank of Scotland has agreed to pay $4.9 billion to settle charges that it misled investors with residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis, the US Department of Justice said on Tuesday.

The final deal is lower than the $12 billion sum that US authorities had asked RBS, once the world’s largest bank by assets, to pay earlier in negotiations, as reported back in 2016.

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The suit against RBS is part of a multisuit campaign against major banks, which allegedly did not disclose problems with the ... (read more)