Mealey's Banking & Finance - RBS To Pay $275M To Settle Mortgage-Backed Securities Claims

Mealey's Banking & Finance - RBS To Pay $275M To Settle Mortgage-Backed Securities Claims

NEW YORK - The Royal Bank of Scotland Group (RBS) will pay $275 million to settle claims that it concealed the investment quality of certain mortgage-backed securities sold in stock offerings in violation of federal securities laws, according to a press release issued Feb. 20 (New Jersey Carpenters Vacation Fund v. Harborview Mortgage Loan Trust 2006-4, et al., No. 08-5093, S.D. N.Y.).

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