YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Royal Bank of Scotland reached a tentative settlement with the United States to the tune of $4.9 billion.
The U.S. Department of Justice has alleged the bank misled investors who bought securities backed by risky mortgages leading up to the recession.
The agreement will "allow us to deal with this significant remaining legacy issue and is the price we have to pay for the global ambitions pursued by this bank before the crisis," CEO Ross McEwan said. "Removing the uncertainty over the scale of this settlement means that the investment case for this bank is much clearer."
Read more from The Associated Press.
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