Royal Bank of Scotland to Pay $52 Million for Securitization Role in Subprime Mortgage Meltdown
RBS Financial Products Inc. ("RBS") will pay $52 Million to settle allegations that it financed, purchased, and securitized residential loans that were presumptively unfair under Massachusetts law, Attorney General Martha Coakley announced today. The company, formerly known as Greenwich Capital Financial Products, Inc., is a subsidiary of the Royal Bank of Scotland.
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