United States:
FDIC Settles RMBS Litigation For $190 Million With U.S. Financial Institutions
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On May 26, 2016, the FDIC reached a $190 million settlement of
RMBS claims against eight financial institutions, including
Barclays Capital Inc.; Deutsche Bank Securities Inc.; Goldman,
Sachs & Co; RBS Securities Inc.; and UBS Securities LLC. The
settlement resolves six separate suits brought in 2011 and 2012 in
California and Alabama alleging misrepresentations within the
defendant underwriters' RMBS offering documents. The
FDIC, as a receiver, will distribute the settlement funds among
five failed bank receiverships. FDIC Settlement Agreement.
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