RBS Puts Up $2M To End Mortgage Misrepresentation Claims

Law360, San Francisco (June 14, 2013, 6:22 PM EDT) -- A California federal judge on Friday gave preliminary approval to a $1.75 million settlement between RBS Financial Products Inc. and a class of 2,500 borrowers who say the mortgage-loan documents they signed didn't disclose that their interest rates would rise sharply after the first month.

U.S. District Judge Susan Illston gave her blessing to the deal in the long-running case without recommending any changes to the terms, according to Lee Weiss of Berns Weiss LLP, who represents the plaintiffs. Under the deal, 25 percent of the...
To view the full article, register now.




Case Information

Case Title

Jordan v. Paul Financial, LLC

Case Number



California Northern

Nature of Suit

Contract: Other


Susan Illston

Date Filed

August 30, 2007

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.