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Royal Bank of Scotland pays $4.9 billion for financial crisis-era misconduct - U.S. Justice Dept

Royal Bank of Scotland pays $4.9 billion for financial crisis-era misconduct - U.S. Justice Dept
FILE PHOTO: Royal Bank of Scotland signs are seen at a branch of the bank, in London, Britain December 1, 2017. REUTERS/Peter Nicholls/File Photo   -   Copyright  Peter Nicholls(Reuters)
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WASHINGTON (Reuters) – Royal Bank of Scotland <RBS.L> will pay $4.9 billion (3.85 billion pounds) to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008, the U.S. Justice Department said on Tuesday, adding this was the largest penalty imposed on a bank for misconduct during the financial crisis.

The department said that RBS disputes the allegations and does not admit wrongdoing.

(Reporting by Lisa Lambert; Editing by Eric Beech)

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