RBS Unit Will Pay $120M To Settle Conn. RMBS Investigation

Law360, New York (October 3, 2016, 6:10 PM EDT) — A Royal Bank of Scotland Group PLC unit will pay $120 million to the state of Connecticut to end a four-year investigation into the bank’s underwriting of residential mortgage-backed securities in the years before the 2008 financial crisis, the state’s attorney general announced Monday.

In what is the largest settlement sum ever paid to Connecticut, RBS Securities Inc. agreed to pay $250,000 to the state Department of Banking and the rest into the state’s general fund, Attorney General George Jepsen and DOB Commissioner Jorge Perez said.

Source: Law360

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s