Mealey's Securities/D&O Liability - RBS To Pay $99.5M To Settle Claims In Fannie Mae, Freddie Mac Lawsuits

Mealey's Securities/D&O Liability - RBS To Pay $99.5M To Settle Claims In Fannie Mae, Freddie Mac Lawsuits

NEW YORK - Royal Bank of Scotland Securities Inc. (RBSSI) on June 19 agreed to pay $99.5 million to settle claims that it violated state and federal securities laws by misrepresenting the investment quality of residential mortgage-backed securities it underwrote that were subsequently sold to Fannie Mae and Freddie Mac (Federal Housing Finance Agency v. Ally Financial Inc., No. 11-7010, S.D. N.Y.).

Find full version on lexis Advance®
Access this news story on lexis.com®