RBS reaches $275 million mortgage-backed securities settlement

The settlement is the third-largest settlement in the U.S. class action against banks packaged and sold mortgage securities

Another puzzle piece has been placed in the government’s ongoing quest to hold banks accountable for their misdeeds in the 2008 financial crisis, and this piece is a crucial one: the role of Royal Bank of Scotland Group PLC (RBS).

On Feb. 19, RBS officials announced that the company had reached a $275 million settlement with the U.S. government to resolve allegations of misleading investors in mortgage-backed securities. The settlement is the third-largest settlement in the U.S. class action against banks packaged and sold mortgage securities.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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