Bloomberg - RBS may face $4.5bn payout

A Billion Dollars

Royal Bank of Scotland could pay as much as $4.5bn to resolve claims of misconduct in its handling of U.S. mortgage securities, according to Bloomberg Intelligence.

RBS may be closer to JPMorgan’s $4bn accord with the U.S. Federal Housing Finance Agency over its sale of mortgage-backed securities than Deutsche Bank's $1.9bn deal, Elliott Stein, an analyst for Bloomberg Intelligence, wrote on Wednesday.

The FHFA, suing on behalf of government-owned lenders Fannie Mae and Freddie Mac, is seeking to add to more than $19bn it’s already collected in settlements from 16 other banks. Edinburgh-based RBS has set aside about $3.2bn to cover the cost of the lawsuit.

To access the complete Bloomberg News article hit the link below:

RBS Seen Facing Up to $4.5 Billion to Close Mortgage Suit

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