Attorney General Frosh announces $18 million settlement with RBS Financial Products

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh on Tuesday announced that the Securities Division has entered into an $18 million settlement with RBS Financial Products, Inc., a subsidiary of the Royal Bank of Scotland. The Consent Order resolves claims that RBS misled investors in its issuance and underwriting of financial crisis-era residential mortgage-backed securities (RMBS). “RBS issued and underwrote residential […]