Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Globe Staff and wire services August 14, 2018 The Royal Bank of Scotland will pay the largest fine arising out of the mortgage crisis to settle allegations it misled investors about risky home loans made during the housing bubble that ultimately led to the 2008 financial collapse.The $4.9 billion settlement was reached with the US Attorney’s office in Boston and was the largest penalty on a single company that the US Department of Justice has imposed on banks and lenders for financial crisis-era misconduct.“This resolution . . . holds RBS accountable for defrauding the people and institutions that form the backbone of our investing community,” Andrew Lelling, the US attorney in Boston, said in a statement. Advertisement In 2008, RBS was the third largest underwriter of residential mortgages, which it then packaged and sold on to investors as securities. Get Talking Points in your inbox: An afternoon recap of the day’s most important business news, delivered weekdays. Thank you for signing up! Sign up for more newsletters here But government prosecutors said the bank routinely failed to inform investors of the risky nature of… Read full this story
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