Jul

R.B.S. to Pay $5.5 Billion to Settle Toxic Mortgage Claims in U.S.

LONDON — The Royal Bank of Scotland said on Wednesday that it had agreed to pay $5.5 billion to American authorities to resolve claims related to its underwriting and sale of toxic mortgage securities.

The settlement with the Federal Housing Finance Agency — regulator of the mortgage finance giants Fannie Mae and Freddie Mac — partially removes a longtime cloud from over R.B.S., which has tried to resolve continuing litigation as part of its efforts to engineer a turnaround…

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R.B.S. to Pay $5.5 Billion to Settle Toxic Mortgage Claims in U.S.

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