Royal Bank of Scotland strikes €3.6bn US mortgage settlement

Royal Bank of Scotland Group rose the most in two months in London trading after the bank took a £3.1bn (€3.6bn) charge in a step toward resolving a US probe into sales of mortgage securities.
Royal Bank of Scotland strikes €3.6bn US mortgage settlement
Fri, 27 Jan, 2017 - 00:00
Richard Partington

The lender is continuing to co-operate with the US Department of Justice (DOJ) on its investigation, though timing of a settlement remains uncertain, the bank said yesterday.

RBS has taken £6.7bn of provisions related to as many as 15 mortgage investigations and lawsuits, and may face further charges.

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BusinessFinanceEconomyRBSRoyal Bank of ScotlandUSMortgagePlace: USPlace: LondonPlace: UKPerson: CEOPerson: Ross McEwanPerson: Ewen StevensonPerson: McEwanOrganisation: Royal Bank of ScotlandOrganisation: Royal Bank of Scotland GroupOrganisation: US Department of JusticeOrganisation: DoJOrganisation: RBSOrganisation: Deutsche BankOrganisation: Credit SuisseOrganisation: UK governmentOrganisation: Justice DepartmentOrganisation: Williams & Glyn
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