Deal relates to sale of mortgage-backed securities in run-up to financial crisisBarclays has agreed a $2bn (£1.4bn) settlement with the US justice department over the sale of mortgage-backed securities in the lead-up to the 2008 financial crisis.The settlement follows a three-year investigation into allegations that the bank caused billions of dollars of losses to investors by “engaging in a fraudulent scheme” to sell Residential Mortgage-Backed Securities (RMBS) between 2005 and 2007. Continue reading…

Source: https://www.theguardian.com/business/2018/mar/29/barclays-agrees-to-pay-2bn-to-settle-us-case-justice-department-mortgage-backed-securities

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