New York Attorney General Eric T. Schneiderman this week announced a $500 million settlement between the state and Royal Bank of Scotland. The settlement relates to claims that the bank misled investors over the quality of risky mortgage-backed securities leading ...
Read More »Finishing Strong
The FHFA recently settled the 17th of the 18 lawsuits it has filed on behalf of Freddie Mac and Fannie Mae. Read on to see the sum each Enterprise is going to receive.
Read More »RBS Settlement Delayed Thanks to DoJ Shakeup
Will a potential settlement between the U.S. Department of Justice and the Royal Bank of Scotland be delayed following the replacement of acting Attorney General Sally Yates?
Read More »RBS Sets Aside Billions for Settlements
Does the Royal Bank of Scotland’s announcement of additional provisions on Thursday mean the bank will soon reach a settlement with the FHFA?
Read More »Will Royal Bank of Scotland be the Next to Settle RMBS Fraud Claims?
Out of 18 firms sued by the FHFA in 2011 over RMBS fraud, RBS is the only one not to have resolved their case through either settlement or trial.
Read More »Department of Justice May Seek Criminal Charges Against RBS, Chase Execs
The DOJ is reportedly standing by its word and pursuing criminal cases against executives at these two banking institutions for allegedly selling flawed mortgage securities after being warned by associates of their wrongdoings.
Read More »Nomura’s Penalty in Mortgage-Backed Securities Lawsuit Increased to $839 Million
Nomura Holdings and the Royal Bank of Scotland (RBS) have agreed to pay an extra $33 million in addition to the $806 million a judge ordered them to pay for allegedly misrepresenting the quality of mortgage-backed securities sold to Fannie Mae and Freddie Mac in the run-up to the financial crisis.
Read More »Royal Bank of Scotland Loses Bid to Have FHFA’s MBS Suit Dismissed
A federal judge in Connecticut has denied a bid by the Royal Bank of Scotland (RBS) to dismiss a lawsuit filed by the FHFA accusing the bank of misleading Fannie Mae and Freddie Mac in the sale of $32 billion worth of residential mortgage-backed securities before the financial crisis.
Read More »Circuit Court Revives FDIC’s Securities Suit Against Deutsche, Goldman, and RBS
A judge in Austin, Texas, dismissed the lawsuits filed by the FDIC last year against the financial institutions, stating that a Texas law that required lawsuits to be filed within five years of the sale of the mortgage-backed securities superseded the federal law.
Read More »FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit
The lawsuit against RBS in the Connecticut court involved the selling of about $32 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac before the crisis. The bank had set aside about $3 billion for a possible settlement but reports surfaced that the FHFA might ask as much as $7.7 billion.
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