RBS to pay $5.5 bn to resolve 2008 financial crisis probe
Royal Bank of Scotland (RBS) has announced that it will pay $5.5 billion (â¹35,400 crore) to settle a US investigation linked to the 2008 financial crisis. RBS was accused of mis-selling $32 billion in mortgage-backed securities before the crisis. Notably, RBS needs to resolve multiple legal cases so the British government can sell its 70% stake in the bank.