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KM Financial Solutions | U.S., RBS reach settlement in principle over mortgage-backed securities
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U.S., RBS reach settlement in principle over mortgage-backed securities

08 May U.S., RBS reach settlement in principle over mortgage-backed securities

Posted at 23:33h in News by
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May 9 (Reuters) – The U.S. Justice Department has reached
agreement in principle with the Royal Bank of Scotland
on settlement of potential civil claims stemming from
mortgage-backed securities issued from 2005 to 2008, the company
and the U.S. attorney’s office in Massachusetts said on
Wednesday.
The bank said in a statement that under terms of the proposed
settlement, it has agreed to pay a civil penalty of $4.9
billion. The attorney’s office said: “Further details remain to
be negotiated, how

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