US hits RBS with US$500m penalty for deceptive investments
Settlement includes US$400m worth of consumer relief as a result of the sale of mortgage-backed securities
Thu, Mar 08, 2018 - 5:50 AM
US authorities on Tuesday hit the Royal Bank of Scotland (RBS) with a US$500 million penalty for "deceptive practices" in mortgage investments that it sold in the run-up to the global financial crisis.
The penalty follows US$5.5 billion which the bank, once the largest in...