March 6, 2018

New York announced a $500 million settlement with Royal Bank of Scotland over the bank’s deceptive practices and misrepresentations to investors in connection with the packaging, marketing, sale, and issuance of residential mortgage-backed securities (RMBS) leading up to the financial crisis. The settlement includes $100 million in cash to New York State and $400 million worth of consumer relief for New York homeowners and communities. NY