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RBS is paying $1.1 billion to settle 'toxic' mortgage mis-selling claims in the US

Royal Bank of Scotland (RBS) is paying $1.1 billion (£850 million) to settle two claims it mis-sold "toxic" mortgage security products to US credit unions in the US in the run-up to the 2008 financial crisis. RBS' US subsidiary sold mortgage-backed security products to two credit unions — US Central Federal Credit Union and Western Corporate Federal Credit Union — in the run-up to the financial crisis.
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