homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

August 15, 2018

Bank fined $4.9B for housing bubble

EDINBURGH (AP) —Royal Bank of Scotland will pay a $4.9 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial crisis.

The Justice Department said in a statement Tuesday that the penalty is the largest it has imposed for financial crisis-era misconduct at a single company.


 
. . .


To read this story in full login or purchase a subscription.




Email or user name:
Password:
 
Forgot password? Click here.