Settlement bargain for Barclays on legacy RMBS

Owen Sanderson

March 29, 2018 05:15 PM

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File photo dated 05/02/13 of a branch of Barclays, which has seen half-year profits surge, but said it would have to fork out an extra £700 million to meet compensation claims for mis-selling payment protection insurance (PPI). | Joe Giddens/PA Wire/PA Images

Barclays’ decision to carry on its legacy RMBS fight in 2016, rather than settle as Credit Suisse and Deutsche Bank did, has paid off handsomely, with a $2bn civil settlement for the bank and $2m for the two bankers at the centre of the suit announced last Thursday.

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Settlement bargain for Barclays on legacy RMBS

Barclays’ decision to carry on its legacy RMBS fight in 2016, rather than settle as Credit Suisse and Deutsche Bank did, has paid off handsomely, with a $2bn civil settlement for the bank and $2m for the two bankers at the centre of the suit announced last Thursday.

Unlock this article.

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