RBS agrees to pay $1.1 bn over 2008 financial crisis
The Royal Bank of Scotland has agreed to pay $1.1 billion to settle some of the legal claims against it in the US for allegedly selling faulty mortgage-backed securities in the run-up to the 2008 financial crisis. This settlement brings recoveries against various banks over selling such securities to $4.3 billion. However, RBS has not admitted fault under the settlement.