Leading up to the 2008 global financial crisis, executives in The Royal Bank of Scotland Group made a number of risky moves and failed to disclose them to investors, including U.S. mortgage lenders Fannie Mae and Freddie Mac. The moves resulted in $49 billion in investor losses, according to the U.S. Department of Justice.

On Tuesday, DOJ announced a $4.9 billion settlement with London-based RBS—the largest U.S. penalty imposed by the agency for financial crisis-related misconduct at a single entity. (In 2017 Deutsche Bank agreed to pay a $3.1 billion penalty; plus a separate $4.1 billion in relief to underwater homeowners and affected communities.)

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]