RBS agrees to $5bn settlement with US over sale of toxic mortgages

The Royal Bank of Scotland (RBS) has reached an agreement with the US Department of Justice (DOJ) to end a long-running probe into its actions in the lead-up to the 2007-2008 global financial crisis. Under the agreement, the bank will pay a penalty of $4.9 billion. RBS boss Ross McEwan called the settlement “a milestone moment.”