Wednesday, September 28, 2016

RBS Settles Lawsuit with NCUA

The National Credit Union Administration (NCUA) will receive $1.1 billion to settle legal claims against Royal Bank of Scotland (RBS) arising from the sale of faulty mortgage-backed securities to two corporate credit unions.

A settlement agreement was reached, and once payment is made, NCUA’s recoveries from various financial institutions will reach $4.3 billion.

The settlement covers claims associated with the failures of Western Corporate Federal Credit Union and U.S. Central Federal Credit Union.

Read the press release.

2 comments:

  1. How much do Fenners lawyer friends get?
    Credit unions are getting $1.1B, right?

    ReplyDelete
  2. true. its disgusting.

    ReplyDelete