Even as Royal Bank of Scotland Group Plc said Wednesday it would pay $5.5 billion to settle a U.S. lawsuit over its crisis-era mortgage-bond business, it told investors that another big bill may be on the way.
It was referring to an unresolved investigation by the U.S. Justice Department into whether the bank misrepresented the quality of residential mortgage-backed securities it sold a decade ago. RBS is one of the last global banks to face a reckoning with the Justice Department. Its tab could rank near the top of the group, judging by the deal the bank struck this week with the Federal Housing Finance Agency over similar conduct.
This content has been archived.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 Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
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]
