68338
RBS Fined $5.5b
RBS Fined $5.5b

RBS Fined $5.5b

RBS Fined $5.5b

Britain’s bailed-out Royal Bank of Scotland agreed to pay a US regulator $5.5 billion over its role in the subprime mortgage crisis more than a decade ago, AFP reported. The lender said in a statement that the penalty was a “heavy price” to settle US misselling claims, which occurred in the run-up to the notorious global financial crisis and subsequent worldwide recession. “The Royal Bank of Scotland... has reached a settlement with the Federal Housing Finance Agency,” the lender said in a statement, adding that FHFA “litigation against RBS will be withdrawn”. The net cost will be $4.75 billion due to special indemnity agreements.

 

Short URL : https://goo.gl/pvQPBQ
  1. https://goo.gl/BF442K
  • https://goo.gl/RxeMvt
  • https://goo.gl/J5SaB1
  • https://goo.gl/cm91hD
  • https://goo.gl/p8BsZ6

You can also read ...

Qatar Capable of Overcoming Siege Challenges
Qatar affirmed its ability to overcome the challenges of the...
Apple Inc won guarantees from the Trump administration that its lucrative iPhones would ship from China  without being subject to tariffs.
Big companies in the United States from Amazon.com Inc to...
Japan Inflation Inches Higher
Japan’s inflation picked up slightly in June, largely because...
Today, income inequality in the US is greatest among Asians. Asians displaced blacks as the most economically divided racial or ethnic group in the US.
The rich are getting richer and the poor are getting poorer in...
State-Actors Likely Behind Singapore Cyberattack
State-actors were likely behind Singapore’s biggest ever...
S&P Affirms Russia’s Stable Outlook
Standard & Poor’s said in a statement on Friday that it...
Argentina Making Fiscal Progress
Argentina is “unequivocally” making progress on its goals to...
Growing Inflation Looms Large Over India’s Economy
From rising crude oil prices to a poor start to rice-planting...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus