RBS Agrees on $5.5 Billion Settlement over Mortgage-Backed Securities Charges

[kreslik.news]

Royal Bank of Scotland (RBS) has agreed to pay $5.5 billion to settle lawsuits filed in US courts by the Federal Housing Finance Agency (FHFA) accusing the bank of mis-selling billions of dollars in mortgage-backed securities before the global financial crisis.

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In exchange for dismissing one of the two major investigations, which were filed by the FHFA in its capacity as conservator for Fannie Mae and Freddie Mac, the Edinburgh-based lender will pay a fine that exceeds what analysts expected – $3.5 to $5 billion was the ... (read more)