RBS to pay $129.6m to end NCUA suit
The Royal Bank of Scotland (RBS) has agreed to pay 88.4m ($129.6m) to resolve claims by a US regulator that it sold toxic mortgage-backed securities to now-failed credit unions. The National Credit Union Administration (NCUA) filed a lawsuit in 2013 on behalf of two defunct credit unions, Southwest Corporate and Members United Corporate. The NCUA has previously recovered over $1.7bn from several banks, including Bank of America, Citigroup, Deutsche Bank, HSBC and&nbsp;JP Morgan, over securities sold to several credit unions that failed during the financial crisis.
By Y. Peter Kang (September 15, 2015, 10:20 PM EDT) -- RBS Securities Inc. agreed on Tuesday to pay $129.6 million to resolve claims made by the National Credit Union Administration over sales of mortgage-backed securities that allegedly led to the failure of two credit unions, according to documents filed in New York federal court....

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