September 27, 2016
The Royal Bank of Scotland will pay the National Credit Union Administration $1.1 billion to settle legal claims over the sale of allegedly faulty mortgage-backed securities to two corporate credit unions that caused them to fail, the administration announced on Tuesday.
September 02, 2016
A federal judge in Kansas on Thursday denied opposing bids by the federal credit union regulator and two banks, including the Royal Bank of Scotland Group PLC, to end litigation over $1 billion in mortgage-backed securities that felled a credit union in that state.
September 12, 2013
The Royal Bank of Scotland Group PLC, Wells Fargo & Co. and others on Thursday lost their bid to ax litigation brought by the National Credit Union Administration over $1 billion in mortgage-backed securities losses, as a Kansas federal judge found the suit plausibly stated claims of offering misrepresentation.
September 19, 2012
A Kansas federal judge Wednesday allowed appeal of his decision to preserve mortgage-backed securities fraud lawsuits filed against Royal Bank of Scotland Group PLC and Wells Fargo & Co. after a statute of limitations expired, aiming to resolve whether time extensions apply to a government conservator's claims.
July 26, 2012
A Kansas federal judge on Tuesday mostly upheld claims against units of Royal Bank of Scotland Group PLC and Wells Fargo & Co. related to about $1 billion in mortgage-backed securities losses that allegedly led to a credit union's collapse, finding the claims were timely.
June 20, 2011
U.S. regulators sued JPMorgan Chase & Co. and Royal Bank of Scotland PLC units in Kansas on Monday, seeking to recover more than $800 million that the banks generated by selling risky mortgage-backed securities to now-failed credit unions.