The Traderszone Network

Published in TZ Latest News 15 May, 2015 by The TZ Newswire Staff

Nomura, RBS must pay $806 million in mortgage bond case: U.S. judge

A U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc (RBS.L) to pay a collective $806 million for making false statements in selling mortgage-backed securities to Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB). U.S. District Judge Denise Cote in Manhattan entered the judgment after finding the banks liable on Monday following a non-jury bench trial in a lawsuit by the Federal Housing Finance Agency over securities sold ahead of the 2008 financial crisis.

read more