
The New York Attorney announced a $500 million settlement with Royal Bank of Scotland concerning allegations of deceptive practices and misrepresentations to investors in connection with the packaging, marketing, sale, and issuance of residential mortgage-backed securities (RMBS) in the period leading up to the financial crisis. The settlement included $100 million in cash to New York State and $400 million worth of consumer relief for New York homeowners and communities. For more info visit https://web.archive.org/web/20191003224802/https://ag.ny.gov/press-release/2018/ag-schneiderman-announces-500-million-settlement-royal-bank-scotland-over