RBS Reaches $4.9 Billion Settlement with the US DOJ

[kreslik.news]

The Royal Bank of Scotland (RBS), a UK banking group, has reached an agreement with US lawmakers to pay $4.9 billion to settle an investigation into its US mortgage bond services. The announcement comes in the wake of RBS paying the California state attorney $125 million and the New York state attorney of $500 million to resolve similar investigations.

RBS had been subject to an investigation by the US Department of Justice (DOJ) over residential-mortgage backed securities and other derivatives. The financial crisis of 2007-2008 was in large part due to the implosion of the market for ... (read more)