Royal Bank of Scotland pays $4.9 billion for financial crisis-era misconduct: U.S. Justice Department

Royal Bank of Scotland will pay $4.9 billion to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008, the U.S. Justice Department said on Tuesday, adding this was the largest penalty imposed on a bank for misconduct during the financial crisis.

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Source:: Reuters – Business News