RBS to pay out £846m over toxic mortgage securities



Royal Bank of Scotland has agreed to pay $1.1 billion (£846 million) to settle two lawsuits in the US over the sale of toxic residential mortgage-backed securities.
The state-backed lender said the settlement, over claims made on behalf of the US Central Federal Credit Union and Western Corporate Federal Credit Union, were “substantially covered” by existing provisions and would have “no material impact” on the strength of its balance sheet.
However, the Edinburgh-based group said it faces a number of other civil lawsuits and criminal investigations in the US surrounding the sale of the... read more

 
28 September 2016 in Business, Views: 39
Source: Scotsman
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