NCUA Accepts $129.6 Settlement Offer From Royal Bank of Scotland

The NCUA has scored another victory in its ongoing war against the Wall Street firms and financial institutions that sold faulty mortgage-backed securities to corporate credit unions. The Royal Bank of Scotland has agreed to pay $129.6 million to settle claims for losses resulting from its sale of residential mortgage-backed securities to Members United and Southwest corporate credit unions. To date, the NCUA has obtained more than $1.9 billion in legal recoveries. [9/17/15]