RBS will pay N.Y. $500M over bogus mortgage marketing

ROYAL BANK OF SCOTLAND PLC has agreed to pay $500 million to the attorney general of New York to settle charges related to its marketing of toxic mortgage-backed securities in the run-up to the Great Recession. / BLOOMBERG NEWS PHOTO/SIMON DAWSON
ROYAL BANK OF SCOTLAND PLC has agreed to pay $500 million to the attorney general of New York to settle charges related to its marketing of toxic mortgage-backed securities in the run-up to the Great Recession. / BLOOMBERG NEWS PHOTO/SIMON DAWSON
NEW YORK – Royal Bank of Scotland Group PLC agreed to pay $500 million to settle New York’s probe into its marketing of toxic mortgage-backed securities that triggered the financial crisis, moving the government-owned lender a step closer to resolving a series of costly U.S. investigations. The deal boosts the bank’s U.S. settlement costs to…

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