RBS Finalizes $4.9B Financial Crisis Settlement With DOJ
By Jody Godoy (August 14, 2018, 7:50 PM EDT) -- The Royal Bank of Scotland will pay the U.S. $4.9 billion to end claims the bank deceived investors about poor-quality loans behind its residential mortgage-backed securities in what the U.S. Department of Justice on Tuesday called its largest civil penalty against a single corporate entity over the financial crisis.
Royal Bank of Scotland did not admit to or deny allegations that it deceived investors as part of the $4.9 billion settlement with the U.S. Department of Justice. (AP) While the size of the deal is less than what other financial institutions paid to end DOJ claims, those settlements included other amounts,...
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