RBS To Pay $120M To Resolve Mortgage-Backed Securities Investigation

Mealey's (October 4, 2016, 11:59 AM EDT) -- HARTFORD, Conn. — In what is being called “the largest single state settlement in the history of the state of Connecticut,” RBS Securities Inc. will pay $120 million to the State of Connecticut to settle claims that it engaged in underwriting of risky residential mortgage-backed securities before the start of the 2008 financial crisis, the state’s attorney general and banking commissioner announced Oct. 3.

In a joint press release announcing the settlement agreement, Connecticut Attorney General George Jepsen and state Banking Commissioner Jorge Perez announced that,...
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