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Royal Bank of Scotland to pay $1.1 bln to resolve U.S. regulator's mortgage case

Reuters - UK Focus

NEW YORK, Sept 27 (Reuters) - Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve a U.S. regulator's claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration said on Tuesday.

The settlement brings the agency's recoveries against various banks to $4.3 billion in lawsuits over their sale of mortgage-backed securities before the 2008 financial crisis. (Reporting by Nate Raymond in New York; Editing by Bill Rigby)