July 3, 2018

Illinois announced a $20 million settlement with Royal Bank of Scotland as a result of the bank’s misconduct in its marketing and sale of risky residential mortgage-backed securities (RMBS) leading up to the 2008 economic collapse. The settlement with Royal Bank of Scotland resolves an investigation by Madigan’s office over the bank’s failure to disclose the true risk of RMBS investments. IL

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, Housing and Mortgage Fraud, Securities Fraud,