Martin Flanagan: Bigger hits loom on horizon for RBS
Royal Bank of Scotland is to cough up $1.1 billion (£845 million) to a US regulator to help resolve claims that it sold toxic mortgage-backed securities to credit unions that later turned sour.
But there is certain to be a bigger coughing paroxym by RBS on the issue than that agreed with the National Credit Union Administration (NCUA) before this one is put to bed. The bank, which did not admit fault under the terms of yesterday’s deal, still faces massive settlements over the issue that went to the heart of the sub-prime scandal with the US Department of Justice (DoJ) and the Federal... read more
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