Settlement with Federal Housing Finance Agency is part of multibillion-pound penalty it faces from US authorities
Royal Bank of Scotland has been ordered to pay $5.5bn (£4.2bn) to US regulators for misselling toxic mortgage bonds in a “stark reminder” of its behaviour in the run-up to the financial crisis.
The penalty from the Federal Housing Finance Agency is one element of a multibillion-pound bill that the 71% taxpayer-owned bank faces to resolve long-running disputes with authorities in the US over the sale of mortgages packaged into bonds more than a decade ago.