RBS agrees mortgage securities settlement with U.S. regulator

RBS building

Royal Bank of Scotland has agreed to pay £84.4m ($129.4m) to resolve claims by a U.S. regulator that it sold toxic mortgage-backed securities to now-failed credit unions, according to a court filing on Tuesday.

Reuters reports that the National Credit Union Administration filed a federal lawsuit in New York in 2013 on behalf of two defunct credit unions, Southwest Corporate and Members United Corporate.

The NCUA, which regulates, charters and supervises federal credit unions, has brought several lawsuits against various banking defendants over securities sold to several credit unions that failed during the financial crisis.

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RBS in 84.4 million pound mortgage securities deal with U.S. regulator

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