Items Tagged with 'Royal Bank of Scotland'

ARTICLES

Is settlement looming between U.S. and RBS over pre-crisis mortgage bonds?

On to the next one…
Now that the U.S. government secured another massive settlement over pre-crisis mortgage bond practices, this time with Goldman Sachs to the tune of $5 billion, only one major investigation remains outstanding – Royal Bank of Scotland. And according to a report from Reuters, settlement between RBS and the feds could be coming in the next few weeks.
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DOJ reportedly pursuing criminal charges against JPMorgan Chase, RBS executives

U.S. finally targeting individuals for toxic mortgage bonds?
Following through on policy changes announced earlier this year that opened the door to individuals being held criminally responsible for corporate misconduct that helped cause the financial crisis, the Department of Justice is reportedly pursuing criminal charges against executives at the Royal Bank of Scotland and JPMorgan Chase.
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RBS to pay $129.6 million to NCUA to settle RMBS losses

NCUA’s total recoveries in securities cases now exceed $1.9 billion
The Royal Bank of Scotland will pay $129.6 million to the National Credit Union Administration to resolve claims arising from losses related to purchases of residential mortgage-backed securities by Members United and Southwest corporate credit unions. Click here to learn more about the settlement.
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Nomura found liable for selling toxic mortgages to Fannie, Freddie

Judge: Magnitude of falsity “enormous”
A federal judge ruled Monday that Nomura Holdings misled Fannie Mae and Freddie Mac when it made false representations about the quality of mortgages that were used to back $2 billion in securities it sold to the GSEs. The judge said the “magnitude of falsity, conservatively measured, is enormous."
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Royal Bank of Scotland pulls petty mortgage stunt

Here's why we shouldn't be surprised
In fact, the disdain banks and their branch workers have toward their customers is even the subject of one bank's marketing campaign — that's testament to just how widely accepted it is that customer service is terrible. Well, RBS reportedly did something to top it all.
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RBS to slash U.S. mortgage business

The original report, from the Financial Times and followed up by Reuters, said that the British bank will eliminate hundreds of jobs over the next two years “as part of the an effort to reduce its assets ahead of new rules set out by the U.S. Federal Reserve.”
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