RBS agrees $4.9bn US fine in 'milestone moment'

Will enable government to sell further shares

Beth Brearley
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RBS' fine follows last year's $5.5bn penalty from the Federal Housing Finance Agency
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RBS' fine follows last year's $5.5bn penalty from the Federal Housing Finance Agency

The Royal Bank of Scotland (RBS) has been fined almost $5bn by the US Department of Justice (DoJ) relating to its role in the subprime crisis.

The $4.9bn civil settlement with the DoJ - which is lower than analysts predicted and includes $3.46bn that has already been covered - will mean the government is able sell more shares in the bank, the...

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