2008 financial crisis

Royal Bank of Scotland fined $4.9B for housing bubble role

August 15, 2018 (STL.News) Royal Bank of Scotland will pay a $4.9 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial crisis. The Justice Department said in a statement Tuesday that the penalty is the largest it has … Continue reading Royal Bank of Scotland fined $4.9B for housing bubble role

WILMINGTON, Del. | Feds say Wilmington Trust officials victims of own arrogance

WILMINGTON, Del.  — As plans for strip malls and new residential communities stalled in the wake of the 2008 financial crisis, with weeds instead of houses sprouting in former farm fields, developers in Delaware were having a hard time paying off millions of dollars in construction loans owed to Wilmington Trust. But their cozy relationships … Continue reading WILMINGTON, Del. | Feds say Wilmington Trust officials victims of own arrogance