The Royal Bank of Scotland (RBS) recently reached a settlement sum of $5.5 billion with the U.S. Federal Housing Finance Agency (FHFA) in the agency’s lawsuit.
One down, one to go
This settles at least one of the the two mortgage-baked securities lawsuits against RBS in U.S. courts. Another lawsuit remains pending with the U.S. Department of Justice (DOJ). According to the Reuters article, experts are estimating at least $10 billion will go towards the settlement. It is slated to be the largest fine ever paid by the bank in U.S. courts.